Breaking news.. The Bank of England issues its first interest rate decision for the year 2025.

The Monetary Policy Committee of the Bank of England issued its interest rate decision on Thursday after the conclusion of its February meeting, where the bank decided to cut the main interest rates by 25 basis points to a level of 4.50%, unchanged from 2.75% as widely forecasted by market expectations. The Bank of England had kept the interest rate unchanged at the last meeting following two consecutive cuts.

The Bank of England's decision today came with a split vote among the members of the Monetary Policy Committee, where 8 members voted in favor of the rate cut, while one member voted for keeping the rate unchanged. The change in the interest rate decision is the main focus of the monetary policy statement issued by the bank, due to its significant impact on currency and commodity markets.

Traders usually monitor interest rates closely, as short-term interest rates are the key factor in the value of the currency. If the Bank of England is optimistic about the inflation outlook for the economy and raises interest rates, this would positively affect the British pound. However, on the other hand, if the bank has a neutral outlook on the British economy and keeps interest rates unchanged or lowers them, this would negatively impact the pound.