Reported 11 days ago
The Bank of England (BOE) has decided to keep its benchmark interest rate at 4.75%, despite three officials advocating for an immediate cut. This decision follows a split vote within the Monetary Policy Committee and suggests a cautious approach towards future rate reductions. Governor Andrew Bailey indicated that while they will continue to ease gradually, uncertainties in the economy prevent any commitments on the timing or extent of future cuts. Market reactions point to an anticipated decline in rates in 2025, as the BOE navigates ongoing inflation concerns and economic stagnation.
Source: YAHOO