The Bank of England’s Official Bank Rate decision, Monetary Policy Summary, MPC vote split and Monetary Policy Report landed at 11:00 UTC on 30 July 2026. Thirty minutes on, sterling was softer across the board, with GBP/USD leading a modest retreat.
Where the GBP moved
GBP/USD posted the largest move, easing 0.12% to 1.33739 from 1.33901 at the release.
GBP/AUD slipped 0.11% to 1.91721 from 1.91927, matched by GBP/SGD, which fell 0.11% to 1.72291 from 1.72477.
GBP/NZD eased 0.07% to 2.29124 from 2.29284.
The smallest moves were in the crosses: GBP/NOK edged down 0.04% to 12.81508 from 12.81964, and GBP/JPY nudged 0.03% lower to 217.971 from 218.025.
What the reaction shows
The reaction was uniformly negative but contained, with every pound pair softening in the half hour after the decision. The direction was consistent rather than dramatic.
The move concentrated against the US dollar, where GBP/USD showed the clearest slide, while the Antipodean and Singapore crosses tracked a similar path. Against the yen and Norwegian krone, sterling barely budged, leaving those crosses close to their pre-release levels.
Taken together, this was a mild, broad-based easing in sterling rather than a sharp repricing across any single pair.
Descriptive market news from the ForexBullion Research Team. Not investment advice.
