US EditionBank of England holds interest rates, warns global trade uncertainty has intensified
- The Bank of England decided to maintain the main U.K. interest rate at 4.50% despite economic challenges, as noted in a statement from the Monetary Policy Committee.
- Inflation remains above the Bank's target, currently at 3%, according to the Bank of England's assessment.
- Bank Governor Andrew Bailey expressed concerns about economic uncertainty and emphasized the importance of keeping inflation low and stable.
- Critics blame Treasury Chief Rachel Reeves for negative economic reports following Labour's return to power, stating her actions increased taxes and affected growth negatively.
122 Articles
122 Articles
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Brits may have to wait until August for BoE to cut interest rates again
SQUEEZED Brits may have to wait until August for the Bank of England to cut interest rates again, according to economists. As widely expected the Bank yesterday voted to hold interest rates at 4.5 per cent as it flagged Donald Trump’s tariffs had made the global economy much more volatile. ReutersAndrew Bailey, Bank of England governor, said that there was ‘a lot of economic uncertainty at the moment’[/caption] Andrew Bailey, governor, said that…
France to raise €5bn in new capital for defense sector
French authorities seek to shore up investment in the defense sector, aiming to raise €5bn in new capital. EU officials say they will delay implementing a first set of tariffs on goods from the US. Plus, the Bank of England holds its key interest rate at 4.5%, and warns of global trade uncertainty.
In a statement, the monetary authority says that the "world economy is experiencing extreme levels of uncertainty", trade tensions have increased and the global economic outlook is unpredictable
TEXT-Bank of England’s Monetary Policy Summary
allowed the MPC to withdraw gradually some degree of policy restraint, while maintaining Bank Rate in restrictive territory so as to continue to squeeze out persistent inflationary pressures. Since the MPC’s previous meeting, global trade policy uncertainty has intensified, and the United States has made a range of tariff announcements, to which some governments have responded. Other geopolitical uncertainties have also increased and indicators …
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