BREAKING: BoE lifts interest rates to 0.25%

The Bank of England announced a monetary policy decision at 12:00 pm GMT. Decision was closely watched as some economists expected that the bank will deliver a 15 basis point rate hike while others believe that bank will leave rates unchanged despite mounting inflationary pressure and as the imposition of tougher restrictions against COVID-19 in England threatens the economic recovery. Actual decision showed that the Bank of England raised its benchmark interest rate to 0.25 % and left the bond-buying programme at £875 billion.

GBPUSD rose after today's BOE rate decision and is heading towards the resistance level at the 1.3500. Source:xStation5

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