LONDON (ICIS)–The Bank of England (BoE) on Thursday cut its key interest rate for the second time this year, instituting a 25 basis point fall as inflation continues below target. The bank cut its core interest rate to 4.75% in the wake ...
LONDON (ICIS)–The Bank of England (BoE) on Thursday cut its key interest rate for the second time this year, instituting a 25 basis point fall as inflation continues below target. The bank cut its core interest rate to 4.75% in the wake of...
“Inflationary pressures have eased enough that we’ve been able to cut interest rates today,” said Bank Gov. Andrew Bailey, who voted for a cut. “But we need to make sure inflation stays low, and be careful not to cut interest rates too quickly ...
However, Mr Bailey refused to say whether he thought UK interest rates had reached a peak. Today's interest rate rise could be the last. The pace of rises is slowing and inflation is now predicted to fall faster than expected, in part as a result of the government's help for energy bi...
Meanwhile, the European Central Bank has also eased monetary policy, lowering rates twice by a quarter of a percentage point at separate policy meetings. In the UK, economists widely expect the Bank of England to follow suit with additional rate cuts in the coming months if inflation...
LONDON (Reuters) -The Bank of England should be able to lower interest rates gradually as it gains confidence that inflation will remain close to its 2% target, Governor Andrew Bailey said in an interview published on Tuesday. Bailey said he was "very encouraged" by the d...
"Inflationary pressures have now eased enough that we've been able to cut interest rates today," it said in itsMonetary Policy Reporton Thursday. "But this decision was finely balanced. The risks of higher inflation remain. We need to make sure inflation stays low. So we have to be carefu...
“We think a gradual approach to future interest-rate cuts remains right,” Governor Andrew Bailey said in a statement. “But with heightened uncertainty in the economy we can’t commit to when or by how much we will cut rates in the coming year.” ...
The pound also pushed lower today, adding to-tape its lowest level versus the greenback in almost two weeks. This fact along with fading economic growth prospects, prompted investors to scale back bets that the Bank of England will boost interest rates when it meets July 10. However, the fol...
The Bank of England is expected to cut interest lending rates to the lowest since 1951 today. From Telegraph: Mervyn King, the Governor of the Bank, told MPs last week: "We may need to cut Bank Rate more than we would otherwise have done. We will take wh