rates's blog

Following its November policy meeting, the Bank of England's Monetary Policy Committee (MPC) chose to maintain the benchmark interest rate at 0.1 per cent. Even though this decision was in line with market expectations, market pricing indicated a 50% possibility of a rate rise of 15 basis points. Following the first market reaction, the British pound came under heavy selling pressure, and the GBP/USD pair was last spotted at 1.3580, down 0.75 per cent on the day.