BoE Bank Rate: 4.5% vs 4.5% exp. and 4.5% previously
- BoE MPC Vote Unchanged: 8 vs 7 exp. and 0 previously
- BoE MPC Vote Hike: 0 vs 0 exp. and 0 previously
- BoE MPC Vote Cut: 1 (BoE Dhingra) vs 2 exp. and 9 previously
BoE raised UK Q1 2025 GDP forecast to 0.25% from 0.1% previously, signalling that a January and February data from the UK economy came in line with expectations. BoE Mann has dropped a call for the 50 bps rate cut.
GBPUSD pair gains after the BoE decided to hold rates unchanged, in line with markets expectations. BoE Governor, Bailely commented that interest rates in the UK are on a 'gradually declining path' and 'gradual and careful' stance is appropriate. According to the bank advanced economies face downside risks and global uncertainty has increased since February 2025, also in the United Kingdom. Bank of England signals that average pay growth in 2025 will beset between 3.5 - 4% YoY according to sources.
Source: xStation5
BREAKING: Eurozone trade balance mixed 💶
Economic calendar: US Philly Fed and central bankers speeches in focus
BREAKING: UK manufacturing data slightly stronger than expected; GDP lags slightly
Morning wrap (16.10.2025)
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