BOE Keeps Rate at 5% as Economy Slumps, Prices Rise

Aug. 7 (Bloomberg) -- The Bank of England kept the main interest rate unchanged for a fourth month after inflation accelerated and the economy teetered on the brink of a recession.

The Monetary Policy Committee, led by Governor Mervyn King, left the bank rate unchanged at 5 percent today, the central bank said in London. The decision was predicted by all 60 economists in a Bloomberg News survey

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As predicted, the interest rate remains unchanged. THIS has certainly boost GBP/USD pair...it has made my equity in my FOREX CHALLENGE a big surprise...

AT 2pm, it was 28k in equity...

Time now is 739pm, my equity is 45k...5hrs and a difference of 15k....

TIME IS MONEY, isnt it ? ONLY PROBLEM is, i got not much time to monitor it...But, my target is that, this piece of news will certainly ride bullish on GBP for at least the next 6hrs...

my predicttion:
SHORT GBP/USD...(24hrs period)
LONG AUD/USD...(2-3days period)