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
5.5%
Previous
5.25%
Bank of England Rate Decision for September 21, 2023 came in at 5.25% versus 5.5% expected (previous 5.25%), below forecast, which was negative for the GBP.
What it meant for the GBP
The actual landed below the 5.5% forecast (0.25 below expectations). A reading above forecast is generally bullish for the GBP, and below forecast bearish. On this release the read was negative for the GBP.
New to this release? See what Bank of England Rate Decision measures, the next release and its full history.