Bank of England Keeps Rates Steady, Rate Cut Likely

Bank of England maintains interest rate, hints at potential cut: Despite a close vote, the Monetary Policy Committee kept the benchmark Bank Rate at four percent. However, the narrow margin suggests a rate cut may be imminent, especially after the upcoming budget announcement. Governor Andrew Bailey and four other members voted to keep rates unchanged, while Deputy Governors Sarah Breeden and Dave Ramsden pushed for a cut. The next decision is scheduled for December eighteenth, following the budget announcement and with more data on inflation and jobs.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.