Rubbish Check
Daily Mail Money · 19 September 2026
source“Pound slides as Bank of England holds interest rates in Britain”
R2/ 10
Lightly altered
Rubbish Rating — 1 = base fact, 10 = pure rubbish
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In short
Rubbish Talk rates Daily Mail Money's claim that the pound slid as the Bank of England held rates a 2/10, because the article's own reporting confirms sterling fell to $1.33 in the same week the BoE kept rates at 3.75% while the Fed, ECB and Bank of Japan all tightened.
The Verdict
Lightly altered. The headline states the causal link plainly and the article backs it: a currency held flat while peer central banks hiked will typically weaken, and it did. The only thing missing from the headline is that Governor Bailey simultaneously signalled hikes were possible in coming months, a nuance that softens the "BoE stands pat" framing slightly but doesn't overturn it.
What actually happened
The Bank of England held its benchmark rate at 3.75% despite August inflation running at 3.1%, well above target, and paused its bond-sale programme (quantitative tightening) at the same meeting. Sterling fell toward $1.33 against the dollar over the week, its worst run since May, as the Fed, European Central Bank and Bank of Japan all moved to raise or had already raised borrowing costs this year.
Key facts
- BoE held rates at 3.75%, resisting pressure despite August inflation at 3.1%, above the 2% target.
- Sterling fell close to $1.33, a weekly loss of nearly 1.4%, the sharpest since a 2.3% five-day drop four months earlier.
- The ECB has raised rates twice this year; the Fed hiked for the first time in three years that same week; the Bank of Japan took rates to a 31-year high.
- BoE paused quantitative tightening (bond sales) alongside the hold, a policy detail the headline omits entirely.
- Bailey signalled possible future hikes, with the BoE forecasting a 24% rise in energy bills in January pushing inflation past 4% next year.
What to watch for
Watch whether oil and gas prices ease enough for the BoE to forecast a sub-4% inflation peak, which Morgan Stanley's Bruna Skarica flagged as the swing factor between a continued hold and two hikes in November and February. If the pound keeps sliding into a rate rise, later headlines will need to explain that reversal rather than just report it.
About this scoreThe R-Score is Rubbish Talk's editorial opinion on how far a headline's framing sits from what the underlying facts support. It is a judgement about presentation and emphasis, not an allegation that any outlet has acted dishonestly. Every figure we rely on is linked under Receipts so you can check it yourself.
