BOE raises rates to 4.00%, vote shifts to unanimous hike
The Bank of England lifted its Official Bank Rate to 4.00% from 3.75%, in line with consensus, with the rate-setting committee voting 9-0-0 for the move.
The Bank of England (BOE) raised its Official Bank Rate to 4.00% on Thursday, up from 3.75% and matching the 4.00% consensus. The decision came alongside the bank's Monetary Policy Report and Monetary Policy Summary, both published at 12:00 GMT.
The Monetary Policy Committee (MPC) voted 9-0-0 in favour of the increase. That compares with a 7-0-2 consensus split and a prior vote of 3-0-6, marking a sharp shift toward unanimous support for tightening.
In the 30 minutes after the release, GBP/USD rose 18 pips from 1.3455 to 1.3472, trading in a range of 1.3466 to 1.3482. EUR/USD edged down 3 pips to 1.1223, and USD/JPY was little changed, up 3 pips to 158.40.
Gold futures fell 0.24% to 4133.40, while S&P 500 E-mini futures slipped 0.11% to 7727.25 in the same window.
Bank of England rate decisions are a key driver for sterling pairs and UK bond markets, and shifts in MPC voting patterns can influence expectations for future rate moves across global markets.
Moves: last price before the release to the price 30 minutes later, from 1-minute data (Yahoo Finance); S&P 500 = E-mini futures, gold = COMEX futures. Sources: ForexFactory (Bank of England); ActionForex