Thu, 6 May 2021 | Written By: Neil Wilson Neil is chief market analyst for Markets.com and also writes for the Investors Chronicle as ‘The Trader’, with the daily market outlook published online each morning. BoE quick take: sterling hits one-week high as MPC exits emergency mode Forex This was not as hawkish as some might have wanted but it’s a clear signal the Bank of England is exiting emergency mode. The Bank of England left interest rates on hold at 0.1% and maintained the size of its asset purchase programme at a total of £895bn. By way of a hawkish parting shot Andy Haldane dissented and voted to lower the gilt purchase envelope from £875bn to £825bn. His views are no longer particularly relevant to future monetary policy decisions since he is leaving after the June meeting, but it certainly underlines the fact that the Bank is exiting the emergency phase. Unless there is another deadly wave and new lockdowns the next move on rates will be up.