BREAKING: BoE leaves rates on hold

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The Bank of England decided to take a wait-and-see approach during its March monetary policy meeting and left its benchmark interest rate unchanged at a record low of 0.1% and the bond-buying programme at £875 billion as widely expected. BOE will not tighten policy before evidence of good progress on inflation. UK GDP is projected to recover strongly over 2021 towards pre-Covid levels and CPI inflation is expected to return towards the 2% target in the spring. Bank rate votes 0-0-9 vs 0-0-9 expected

GBPUSD fell slightly after today's BOE rate decision and is heading towards 200 SMA (red line). Source:xStation5

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