{"id":95366,"date":"2020-01-30T08:51:37","date_gmt":"2020-01-30T13:51:37","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=95366"},"modified":"2020-01-30T13:54:27","modified_gmt":"2020-01-30T18:54:27","slug":"102230-gbp-eur-bank-of-england-does-nothing-in-the-end","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/","title":{"rendered":"GBP\/EUR: Bank of England Does Nothing in the End"},"content":{"rendered":"

The British pound is higher against the euro<\/a> on Thursday afternoon after the Bank of England made the decision to keep UK interest rates steady, confounding earlier communications which hinted rates could be lowered.<\/p>\n

GBP\/EUR<\/a> was higher by 59 pips (+0.50%) at 1.1876 with a daily price range of 1.178 to 1.188 as of 1pm GMT. The currency pair had dipped earlier on with the dollar gaining thanks to its haven appeal but turned significantly higher at 12pm GMT when the Bank of England\u2019s decision was announced.<\/p>\n

GBP\/EUR – BoE decided to hold interest rates steady<\/h2>\n

In the end the Bank of England decided to hold interest rates<\/a> steady at 0.75% by a 7-2 vote. The basis for the decision according to the minutes of the meeting were as follows: \u201cSince the December meeting, international developments had been positive and the most recent UK data supported the forecast of a near-term recovery in growth.\u201d<\/p>\n

Although the decision to keep rates steady was a positive for the pound<\/a>, the guidance for what comes next was a little less so. The minutes from the meeting went on to say, \u201cThe Committee would monitor closely the extent to which these early indications of an improved outlook were sustained and followed through to the hard data on domestic activity in coming months.\u201d<\/p>\n

Sterling has seen considerable volatility in the lead up to today\u2019s decision with speculation rife that it could swing either way. Analysts had said the decision was \u201con a knife edge\u201d with markets pricing roughly 50\/50 odds of either a hold or a cut to UK interest rates.<\/p>\n

Most of the time a central bank will make enough public comments before taking a decision that when it happens, the currency has already adjusted to the news. In this case, it wasn\u2019t clear which way the decision would go, and the British pound<\/a> moved quickly higher after rates were kept on hold rather than lowered.<\/p>\n

The gains in the British pound were perhaps capped because the British central bank also cut its growth forecasts for the UK. The average quarterly growth is expected to have slid to 0.2% in 2019, down from 0.35% in 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"

The British pound is higher against the euro on Thursday afternoon after the Bank of England made the decision to keep UK interest rates steady, confounding earlier communications which hinted rates could be lowered. GBP\/EUR was higher by 59 pips (+0.50%) at 1.1876 with a daily price range of 1.178 to 1.188 as of 1pm […]<\/p>\n","protected":false},"author":163946598,"featured_media":5595,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1379],"tags":[1530,2204,1395,1394,1518],"class_list":["post-95366","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eur","category-gbp","tag-bank-of-england","tag-british-central-bank","tag-eur","tag-gbp","tag-interest-rates"],"acf":[],"yoast_head":"\nGBP\/EUR: Bank of England Does Nothing in the End - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/EUR: Bank of England Does Nothing in the End\",\"datePublished\":\"2020-01-30T13:51:37+00:00\",\"dateModified\":\"2020-01-30T18:54:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\\\/\"},\"wordCount\":366,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100638-gbp-eur-pound-pares-losses.jpg\",\"keywords\":[\"bank of england\",\"British central bank\",\"eur\",\"gbp\",\"interest rates\"],\"articleSection\":[\"EUR\",\"GBP\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\\\/\",\"name\":\"GBP\\\/EUR: Bank of England Does Nothing in the End - Currency Live\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100638-gbp-eur-pound-pares-losses.jpg\",\"datePublished\":\"2020-01-30T13:51:37+00:00\",\"dateModified\":\"2020-01-30T18:54:27+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/currencylive.com\\\/news\\\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\\\/#primaryimage\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100638-gbp-eur-pound-pares-losses.jpg\",\"contentUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100638-gbp-eur-pound-pares-losses.jpg\",\"width\":1200,\"height\":675,\"caption\":\"gbp-euro\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GBP\\\/EUR: Bank of England Does Nothing in the End\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/\",\"name\":\"Currency Live\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/currencylive.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\",\"name\":\"Ileana Ionescu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g\",\"caption\":\"Ileana Ionescu\"},\"description\":\"With a background in business journalism, Ileana works as a Junior Market Analyst for Currency Live and creates content that brings transparency to our audience. Originally from Bucharest, Ileana most commonly transfers EUR to RON and speaks Romanian, English, Italian, Spanish and German.\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/author\\\/ileana-ionescu\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"GBP\/EUR: Bank of England Does Nothing in the End - Currency Live","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/","twitter_misc":{"Written by":"Ileana Ionescu","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/#article","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/"},"author":{"name":"Ileana Ionescu","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3d5cb0a6a22d357fc0b9ad562f35e75b"},"headline":"GBP\/EUR: Bank of England Does Nothing in the End","datePublished":"2020-01-30T13:51:37+00:00","dateModified":"2020-01-30T18:54:27+00:00","mainEntityOfPage":{"@id":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/"},"wordCount":366,"image":{"@id":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100638-gbp-eur-pound-pares-losses.jpg","keywords":["bank of england","British central bank","eur","gbp","interest rates"],"articleSection":["EUR","GBP"],"inLanguage":"en-US","copyrightYear":"2020","copyrightHolder":{"@id":"https:\/\/currencylive.com\/news\/#organization"}},{"@type":"WebPage","@id":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/","url":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/","name":"GBP\/EUR: Bank of England Does Nothing in the End - Currency Live","isPartOf":{"@id":"https:\/\/currencylive.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/#primaryimage"},"image":{"@id":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/#primaryimage"},"thumbnailUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100638-gbp-eur-pound-pares-losses.jpg","datePublished":"2020-01-30T13:51:37+00:00","dateModified":"2020-01-30T18:54:27+00:00","author":{"@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3d5cb0a6a22d357fc0b9ad562f35e75b"},"breadcrumb":{"@id":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/#primaryimage","url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100638-gbp-eur-pound-pares-losses.jpg","contentUrl":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100638-gbp-eur-pound-pares-losses.jpg","width":1200,"height":675,"caption":"gbp-euro"},{"@type":"BreadcrumbList","@id":"https:\/\/currencylive.com\/news\/102230-gbp-eur-bank-of-england-does-nothing-in-the-end\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/currencylive.com\/news\/"},{"@type":"ListItem","position":2,"name":"GBP\/EUR: Bank of England Does Nothing in the End"}]},{"@type":"WebSite","@id":"https:\/\/currencylive.com\/news\/#website","url":"https:\/\/currencylive.com\/news\/","name":"Currency Live","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/currencylive.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/currencylive.com\/news\/#\/schema\/person\/3d5cb0a6a22d357fc0b9ad562f35e75b","name":"Ileana Ionescu","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6ed3a7a555c25b7a0a1f9e6aeb6380726362fd35ff3348679ee5989680828ff2?s=96&d=blank&r=g","caption":"Ileana Ionescu"},"description":"With a background in business journalism, Ileana works as a Junior Market Analyst for Currency Live and creates content that brings transparency to our audience. Originally from Bucharest, Ileana most commonly transfers EUR to RON and speaks Romanian, English, Italian, Spanish and German.","url":"https:\/\/currencylive.com\/news\/author\/ileana-ionescu\/"}]}},"jetpack_featured_media_url":"https:\/\/currencylive.com\/news\/wp-content\/uploads\/2019\/08\/100638-gbp-eur-pound-pares-losses.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/95366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/users\/163946598"}],"replies":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/comments?post=95366"}],"version-history":[{"count":5,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/95366\/revisions"}],"predecessor-version":[{"id":95379,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/posts\/95366\/revisions\/95379"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media\/5595"}],"wp:attachment":[{"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/media?parent=95366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/categories?post=95366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/currencylive.com\/news\/wp-json\/wp\/v2\/tags?post=95366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}