BREAKING: GBP drops in spite of Bank of England rate hike

Bank of England announced a monetary policy decision today at 12:00 pm BST. Bank decided to increase interest rates by 25 basis points with the main rate increasing to 1.00%. Such a decision was expected by the market and by the majority of economists but some hinted at a possibility of a 50 bp move. Bank rate vote 9-0 vs 8-1 expected (Haskel, Mann, Saunders voted to raise bank rate to 1.25%

Policymakers said global inflationary pressures have intensified sharply following Russia’s invasion of Ukraine which has led to a material deterioration in the outlook for world and UK growth.

GBP took a hit following the decision. GBPUSD pair is heading towards support at 1.2420. Source:xStation5

3 August 2026, 6:48 PM

Daily summary: Sense of relief to global markets🎢 OIL prices dip 8%🚨

3 August 2026, 3:03 PM

BREAKING: US ISM Manufacturing - Strong Beat Across the Board

3 August 2026, 1:20 PM

Eurozone PMIs: German Factory Revival Masks Underlying Stagnation 🇪🇺

3 August 2026, 12:01 PM

Chart of the Day: Yen Falls From 40-Year Highs – What’s Next? (03.08.2026)

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