The Bank of England is set to announce its decision on interest rates at 7.00 am ET. The central bank is widely expected to hold the interest rate at a historic low of 0.5% and to continue its GBP 200 billion worth quantitative easing measures.
The UK currency stabilized against its major rivals ahead of the rate. As of 6:55 am ET, the pound was worth 144.13 against the yen, 1.6315 versus the US dollar, 1.6735 per franc and 0.9038 per euro.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.