BoE MPC Vote Unchanged Comes in at 6, Down From Previous 7

The Bank of England’s Monetary Policy Committee (MPC) vote for an unchanged policy was released today. The vote count for an unchanged policy came in at 6, down from the previous count of 7. No consensus figure was available for this release.

Following the release, the British Pound saw varied movements against major currencies over the first 15 minutes. EURGBP gained 4.7 pips, while GBPAUD fell 8.9 pips. GBPCAD declined by 11 pips, GBPCHF by 3.7 pips, and GBPJPY by 18 pips. GBPNZD was down 11 pips, and GBPUSD fell 8.6 pips. These initial movements are generally small when compared to the median 1-hour moves observed after past BoE MPC Vote releases. For instance, GBPUSD typically sees a median 1-hour move of 31 pips, and GBPJPY a median 1-hour move of 44 pips.