BoE (Bank of England)

The Bank of England is the UK's central bank. It's the second-oldest central bank in the world (founded 1694) and one of the most-watched. The BoE's Monetary Policy Committee (MPC) meets eight times per year to set the Bank Rate — the headline interest rate that drives all GBP pairs. BoE decisions are announced at 12:00 GMT on "Super Thursdays" — which include the rate decision, the meeting minutes, and the Monetary Policy Report all in one release. This concentration of information makes BoE days some of the highest-volatility moments for GBP/USD, EUR/GBP, and GBP/JPY. The BoE's mandate is price stability with a 2% inflation target, similar to the Fed and ECB. But the BoE has shown more willingness to tolerate above-target inflation when the economy is weak — making its stance often harder to predict than the more rules-based Fed.