Bank of England (BoE): Interest Rate News & Analysis

Central Banks Fundamental Outlook

BankRateChange *Date of changeNext MeetingInflation TargetExpectation
Federal Reserve (FED)0.25%-10015-Mar-2022-Sep-212%4
European Central Bank (ECB)0.00%-510-Mar-169-Sep-213%2
Bank of England (BoE)0.10%-1519-Mar-2023-Sep-212%3
Bank of Canada (BoC)0.25%-5027-Mar-208-Sep-212% +/- 1% 3
Bank of Japan (BoJ)-0.10%-1029-Jan-1622-Sep-212%1
Reserve Bank of Australia (RBA)0.10%-153-Nov-207-Sep-212%-3%1
Reserve Bank of New Zeeland (RBNZ)0.25%-7516-Mar-206-Oct-212% +/- 1%4
Swiss National Bank (SNB)-0.75%-5015-Jan-1523-Sep-21<2%3

* The latest change in the policy rate in basis points


BoE Officials comments about interest rate

BoE's Broadbent says he thinks conditions for a rate rise have been met, but need to focus on medium term

BoE's Ramsden says necessary but not sufficient condition for a rate rise have been met

BoE's Bailey says he thinks minimum conditions for a rate rise have been met, but not sufficient for one

BoE's Tenreyro says she does not think guidance conditions for a rate rise have been met

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BoE's Bailey says persistence of COVID are pushing inflation higher -> GBP Going UP

BoE's Bailey says persistence of COVID are pushing inflation higher -> GBP Going UP

BoE's Bailey says persistence of COVID means there has not been expected rebalancing of demand between goods and services, pushing inflation higher than expected

  • Semiconductor shortage has led to shortage of new cars and pushing up second than car prices as well in UK.
  • Higher than anticipated inflation underlines persistence of COVID.
  • Overall economic impact of COVID in UK has attenuated.
  • Seeing some short-term levelling off of recovery.
  • Do not think inflation will be persistent.
  • Think it is unlikely commodity prices will continue to rise.
  • Expect supply bottlenecks to sort themselves out.
  • Large concern is getting labour market vacancies filled.
  • End of furlough scheme should help fill vaccines.
  • He has a bit more concern regarding persistence of labour market pressures.
  • Risks on both sides to inflation returning to target over medium term.
  • Market curve does point to some increase in interest rates.

GBP Going UP 20 pips on news reaction

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