InterestRateDecision ECB in 14h 57m
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Bank of England Interest Rate Decision, March 2025

The Bank of England held the Bank Rate at 4.50% on March 20, 2025, as expected.

Decision4.50%■ hold
Against expectedAs expectedexpected 4.50%
Previous4.50%Bank Rate
GBP/USD one hour later −2.6 pips from the last price before
The result

What the BoE decided in March 2025

The move Hold Held at 4.50%.
Against expected No surprise Economists expected: hold at 4.50%. The decision was as expected.
The vote 8 to hold, 1 to cut How the MPC voted at this meeting.
Timing 12:00 PM London Thursday, March 20, 2025.
What price did

GBP/USD after the BoE decision, minute by minute

One-minute candles, London time. The box is the hour before the announcement. How we measure.

GBP/USD one-minute chart around the Bank of England decision of Mar 20, 2025 The hour before the 12:00 announcement ranged 18 pips. The first spike went above it by 15 pips, and a five-minute candle closed back inside after 25 minutes. 1.294 1.295 1.296 1.297 1.298 11:00 11:30 12:00 12:30 13:00 13:30 THE HOUR BEFORE BoE 12:00 Spike 1.29792 · 15 pips past the hour's high Closed back inside · 25 min
  1. The hour beforeGBP/USD ranged 18 pips, from 1.29461 to 1.29643, and was at 1.29537 at the announcement.
  2. The first spike After 0 minutes price went through the hour's high and ran 15 pips past it.
  3. The close back A five-minute candle closed back inside the range after 25 minutes.
  4. The other side Price then traded through the opposite edge of the range within four hours.
  5. The moves From the last price before the announcement: +18 pips at 15 minutes, −2.6 pips at one hour, +19 pips at four hours.
For context

Across 14 measured BoE decisions since January 2025, the first spike closed back inside the hour-before range within 60 minutes in 8 (57%), and in 5 of those price then took the other side within four hours. In the other 6 the first move held. Median move in the first 15 minutes: 29 pips.

This decision is one of the closed-back cases. Counts include the decisions where it did not close back. All BoE dates · BoE overview.

← Previous decisionBoE, February 2025Cut 25 bp to 4.50% Next decision →BoE, May 2025Thu, May 8, 12:02 PM London
Questions

BoE March 2025 decision: questions

What time was the BoE interest rate decision on Mar 20, 2025?

It was announced at 12:00 PM London (8:00 AM EDT New York, 9:00 PM Tokyo Tokyo).

What did the BoE decide in March 2025?

Held at 4.50% (previous 4.50%). Economists expected: hold at 4.50%, so the decision was as expected.

How did GBP/USD react to the BoE decision in March 2025?

On one-minute candles: the hour before ranged 18 pips; the first spike went above it by 15 pips; a five-minute candle closed back inside after 25 minutes; after one hour GBP/USD was −2.6 pips from its pre-announcement price.

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