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The Bank of England stood pat as expected, and the pound rose slightly.
On March 20, Jinshi Data reported that the Bank of England kept the interest rate unchanged at 4.5% as expected, indicating that it is waiting to assess the impact of U.S. tariffs on the global economy. After the announcement, the pound rose slightly against the dollar but still fell about 0.2% during the day. Investors are now focusing on Chancellor of the Exchequer Reeves' spring statement next week, in which she is expected to propose spending cuts to ensure that the government does not violate fiscal rules.