LONDON — The Bank of England on Thursday opted to keep interest rates steady at its June meeting, but described the decision as “finely balanced” after U.K. inflation hit its 2% target. Money market pricing lifted the prospect of an August rate cut to nearly 50-50 on what investors pe...
LONDON — TheBank of Englandon Thursday surprised markets with a 50 basis point hike to interest rates, its 13th consecutive increase as policymakers grapple with persistently high inflation. The Monetary Policy Committee voted 7-2 in favor of the half percentagepoint increase, w...
Bank of England, the central bank of the United Kingdom. Its headquarters are in the financial district of London. It was incorporated by act of Parliament in 1694 with the purpose of raising funds to allow the government to wage war against France. It a
Updated: 19/06/2023 Guest Author: Peter Taberner It’s widely anticipated that the Bank of England will raise the base rate on 22 June as inflation remains stubbornly high. The base rate is expected to be increased by a further 0.25% to reach 4.75%, which will ...
The Bank of England unsurprisingly raised its policy rate by 25 bps at its May meeting, but the Bank’s messaging distinguished it from the Fed’s and the ECB’s decisions last week.
Can the Bank of England diverge from the Federal Reserve on rate cuts? Bank officials – including Governor Andrew Bailey – have been not-so-subtly hinting that it can. We agree – we expect the first rate cut in August, or maybe even June, and three or four cuts in total this y...
LONDON – The Bank of England’s Monetary Policy Committee is likely to keep its key interest rate on hold at 5% Thursday as it battles to keep inflation under control. But some dismal activity figures — the latest showing the sharpest fall in industrial output in more than two years — ...
The UK's central bank has pushed up its official borrowing rate by 50 basis points, as inflation pressures continue. In the US, the Fed has raised rates by 0.75 percentage points. Yesterday, the Bank of England’s Monetary Policy Committee agreed to hike interest rates by 0.5 percentage poin...
set to linger for longer. Although the Governor of the Bank of England, Andrew Bailey, indicated that the Old Lady was not yet for turning on rate rises, he said the peak will be lower than market expectations which this morning were currently hovering around 4.6 per cent for June 2023....
Is the Bank of England Raising Interest Rates? Yes. The current base rate, which is the Bank's equivalent of the U.S. prime rate, is 5%. At the end of December 2021, it was 0.25%. The move to 5% was the latest in a series of 12 interest rate increases, the latest of which wa...