Interest Rates Live: Bank of England's Decision to Hold Base Rate at 5%
Thursday, 19 September 2024, 04:49
Interest Rates Meeting Overview
The Bank of England has decided to hold interest rates at 5%, a move that continues to fuel concern for homeowners facing rising costs. In his remarks, Andrew Bailey emphasized the need for caution amid ongoing inflation pressures.
Interest Rates Latest Insights
- Sterling reaches highs not seen since March 2022
- Support for gilt yields strengthens following the interest rates decision
- The hawkish vote at 8-1 indicates a potential shift in future monetary policy
Market analysts suggest that the current interest rates meeting sets the stage for potential cuts in the upcoming months. As Kyle Chapman, FX Markets Analyst at Ballinger Group states, the Bank’s forward guidance remains cautious yet hints at a gradual approach to addressing economic shifts.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.