Reported 19 days ago
The Bank of England has decided to keep interest rates steady at 5%, despite market predictions that two rate cuts may occur before the year's end. The decision follows recent inflation data showing UK inflation at 2.2%, slightly above the BoE’s target. While the Fed has cut rates in the US, the BoE's members voted unanimously to hold rates, with some expecting future cuts in November and December. This stance allows for continued assessment of economic conditions and inflation trends as pressures evolve.
Source: YAHOO