Bank of England Signals Cuts Possible Once Inflation Eases
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The Bank of England opened the door to interest-rate cuts, slashing its outlook for inflation this year and dropping its guidance that borrowing costs may have to rise again.
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Published Feb 01, 2024 • 4 minute read
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(Bloomberg) — The Bank of England opened the door to interest-rate cuts, slashing its outlook for inflation this year and dropping its guidance that borrowing costs may have to rise again.
The UK central bank’s nine-member Monetary Policy Committee split three ways on how to act, with a majority of six opting to leave the key rate unchanged at 5.25%. Swati Dhingra pushed to cut rates, the first vote for a reduction since the start of the pandemic almost four years ago. Two others wanted a rate hike.
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Bloomberg News
2024-02-01 07:35:32
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