Bank of England Holds Rates at 5%
The Monetary Policy Committee of the Bank of England has voted to keep interest rates at 5% in a widely expected decision. Sticky inflation and a rise in the core rate yesterday didn’t buoy hopes for another cut…
Breakdown: 8-1 to leave rates on hold. Last month it was 5-4 to cut.
The Bank dropped interest rates for the first time last month after 14 consecutive hikes, while the Fed cut its rate by a whopping half a point this week. No continuation of that doveish mood this time round. The markets only had it at 10% that a surprise cut was on the way…
