BREAKING: GBP jumps as BoE sees smaller GDP drop this year

Bank of England announced a monetary policy decision at 7:00 am BST. The Bank left rates unchanged and the decision was unanimous. However, British pound caught a bid thanks to a new set of forecasts. BoE expects GDP to contract 9.5% this year against the previous forecast of 14% contraction. However, GDP growth forecast for 2021 was lowered to 9% from previous 15%.

GBPUSD surged above 1.3160 on updated forecasts from Bank of England. Source: xStation5

20 May 2026, 06:38

Morning Wrap (20.05.2026)

19 May 2026, 08:39

Economic Calendar: UK Unemployment on the Rise – How Will the Bank of England React? (19.05.2026)

19 May 2026, 07:24

Morning Wrap: Markets Do Not Believe Trump's Announcements (19.05.2026)

15 May 2026, 19:21

Daily summary: A week closed with declines – is the market starting to fear inflation?

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