GBP/USD Responds Positively as BoE Cuts Rates To Historic Lows

BoE slashes main interest rate from 0.25% to 0.1%
Pledges to increase buying of government bonds by £200 billion
GBP/USD up 1.35% on the day after hitting multi-decade lows yesterday

Bank of England (BoE) announced today that it cut its base rate to a historic low of 0.1%. In addition, the central bank will increase holdings of government bonds by £200 billion i.e. quantitative easing (QE).

This action marks the first big decision for the new Governor Andrew Bailey, who replaced Mark Carney this week. The central bank made a similar move last week when it slashed rates from 0.75% to 0.25%.

GBP/USD is trading 1.35% up on the day after printing a 35-year low yesterday.

Jun 05, 2026, 05:30 AM

Forex

US dollar resilient as traders brace for key economic updates

No results found

Loading articles...

Failed to load articles. Please try again.

GBP/USD Responds Positively as BoE Cuts Rates To Historic Lows

Markets remain cautious ahead of US jobs report as dollar holds steady

USD/KRW: Here’s why the South Korean won is falling as Kospi Index surges

USD/JPY forecast: Japanese yen crashes as traders predict 2 BoJ rate hikes

Dollar edges higher as investors weigh economic data

US dollar resilient as traders brace for key economic updates