BREAKING: GBP jumps after BoE hikes rates by 50 bp

The Bank of England announced its latest monetary policy decision today at 12:00 pm BST. All economists polled by Bloomberg expected BoE to deliver a 25 basis point rate hike while money markets priced in a 75% chance of a 25 bp rate hike ahead of the meeting and a 25% chance of a 50 bp rate move. However, the meeting was expected to be a close call between 25 and 50 bp rate hikes following yesterday's inflation data from the United Kingdom.

Bank of England decided on the more hawkish option - a 50 basis point rate hike to 5.00%. This is the highest level since September 2008. Decision was made with a 7-2 vote split - 7 votes for a rate hike and 2 votes for keeping rates unchanged. Bank of England noted that persistence of high inflation requires further policy tightening. Bank of England also said that it expects Q2 GDP to be flat on a quarter-over-quarter basis

GBPUSD surged following a hawkish move from Bank of England with the pair painting a fresh daily high near 1.2835. However, big part of the move has already been erased and sellers try to push GBPUSD back below 1.2800 mark.

Source: xStation5

8 October 2026, 6:57 PM

Daily Summary: Trump and OpenAI keep the market on a roller coaster💡

8 October 2026, 12:13 PM

Market Wrap: A 4% surge in oil prices weighs on indices (08.10.2026)

8 October 2026, 6:50 AM

Morning wrap: Wall Street and precious metals attempt to stabilize as oil gains nearly 2%

7 October 2026, 3:40 PM

Large decline in crude inventories 🛢️📉

Economic reports

Prefer XTB on Google

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days