Reported 8 months ago
The Bank of England hinted at a potential interest rate cut by the end of the summer as it left rates unchanged at 5.25%. The Monetary Policy Committee voted 7-2 in favor of no change, but the minutes indicated that some policymakers, including Governor Andrew Bailey, may be close to backing a reduction in August. Markets responded by increasing the likelihood of a rate cut and adjustments in the expected amount of easing for the year. The BOE noted a balancing act surrounding inflation and economic growth, with the possibility of gradual rate cuts beyond August depending on incoming data.
Source: YAHOO