Bank of England leaves Official Bank Rate unchanged at 0.5 %

On April 7^th at 12.00GMT the Bank of England released its Official Bank Rate data for the current month.

Previous value: 0.5%; Forecast: 0.5%

Official Bank Rate is the key indicator of the short-term credit market. These data are the basis of the credit policy pursued by various financial institutions.

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In general an increase in the official bank rate makes big-scale traders and investors increasingly interested in the British Pound in terms of possibilities of lending money at higher interest. The growing currency rate attracts other market participants, making them go long the currency pair.

The Official Bank Rate news releases are very significant for those who trade the British Pound.  

The data are published by after the MPC meeting at the beginning of every month.