The Bank of England elected to stay the course this week and held interest rates at 5.25%, with all eyes are now turning to its next meeting in August.
This was the seventh consecutive ‘Hold' call from the BoE and came on the back of inflation finally falling back to its 2% target. Although inflation is now ‘in line', the data were not reassuring enough to begin slashing rates. Friday Briefing: No white rabbits but where was the British ISA? The day prior to the Monetary Policy Committee meeting, Luke Bartholomew, deputy chief economist at abrdn, said that while the fall of headline inflation back to target was expected, it still came as "extremely welcome news to the Bank of England". "The big question now is whether underlyin...
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