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Why is a Bank of England rate decision important?

 

The Bank of England’s interest rate decision is announced following the meeting of its monetary policy committee, which meets eight times a year. The announcement is made on the Thursday following the meeting at noon GMT. If the MPC is hawkish about the inflationary outlook of the economy and raises interest rates it is normally positive, or bullish, for Sterling. Likewise, if the MPC has a dovish view on the UK economy and cuts the interest rate it is seen as negative, or bearish.

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