Skip to Content

Bank of England expected to wait for more evidence that inflation is under control before rate cut

By PAN PYLAS
Associated Press

LONDON (AP) — The Bank of England is expected to maintain interest rates at a 16-year high of 5.25% Thursday, but a cut wouldn’t be a huge surprise as inflation falls from multi-decade highs. The consensus in financial markets is that a majority of the bank’s nine-member Monetary Policy Committee will hold off from voting for a cut on Thursday — like the U.S. Federal Reserve last week — and will await a bit more evidence that measures of inflation are falling as expected. Economists think that a number of policymakers will wait until the summer before backing a cut as they are still concerned about stubborn pay growth and services sector inflation.

Article Topic Follows: AP National

Jump to comments ↓

Author Profile Photo

Associated Press

BE PART OF THE CONVERSATION

KIFI Local News 8 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content