For the BoE Monetary Policy summary click here
At its meeting ending on 21 June 2023, the MPC voted by a majority of 7–2 to increase Bank Rate by 0.5 percentage points, to 5%. Two members preferred to maintain Bank Rate at 4.5%.
The 50bps is above the consensus by 25bps and GBP/USD rallied just after the announcement to test 1.2840, near its 2023 top but retraced below 1.28 at the time of writing.
