The Bank of England's interest rate decision sets UK borrowing costs and is the main driver of the British pound.
Actual
5.25%
Forecast
5.25%
Previous
5%
Source: Bank of England. Figures as released; revisions appear in the next print.
Bank of England Rate Decision for August 3, 2023 came in at 5.25% versus 5.25% expected (previous 5%), in line with forecast.
What it meant for the British Pound
The actual landed in line with the 5.25% forecast. A reading above forecast is generally bullish for the GBP, and below forecast bearish.
New to this release? See what Bank of England Rate Decision measures, the next release and its full history.