BREAKING: GBP sinks after BoE keeps rates unchanged

Open account Download free app

Bank of England announced its latest monetary policy decision today at 12:00 pm BST. Median consensus among analysts is for a 25 basis point rate hike, to 5.50%, with 7 MPC members voting for a hike and 2 voting to keep rates unchanged. This would mean that one less MPC member opted for a rate hike than at the previous meeting (8-1 split). Money markets priced in a 55% chance of 25 basis point rate hike prior to the meeting.

Actual decision turned out to be a surprise - rates were left unchanged at previous level. 5 MPC members voted to keep them unchanged while 4 MPC opted for a hike. Governor Bailey was among those who voted for a no change in rates. Bank of England also decided to cut gilt-purchases by 100 billion GBP over the next 12 months. While rates were left unchanged, BoE cautioned that further tightening is required if inflation persists.

GBP took a hit on the decision with GBPUSD moving to a fresh daily low near 1.2234. However, part of the drop has been erased already.

Source: xStation5

26 January 2026, 8:18 AM

Economic calendar: Ifo data from Germany and retail sales in Poland 💡Wall Street earnings calendar❗

23 January 2026, 10:38 AM

Chart of the day: EURUSD under pressure after PMI data! 📉

23 January 2026, 9:06 AM

BoJ maintains rates despite hawkish shift in outlook. What next for the USDJPY?

23 January 2026, 7:36 AM

Economic calendar: PMI from Europe and the US in the spotlight (23.01.2026)

Forex
Economic reports

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

BREAKING: GBP sinks after BoE keeps rates unchanged

Join over 2 000 000 XTB Group Clients from around the world