This article is from the source 'bbc' and was first published or seen on . The next check for changes will be

You can find the current article at its original source at https://www.bbc.co.uk/news/live/business-68980175

The article has changed 8 times. There is an RSS feed of changes available.

Version 4 Version 5
Interest rate decision: Bank of England holds rates at 5.25% - BBC News Interest rate decision: Bank holds rate but says it's 'optimistic' things moving in right direction - BBC News
(32 minutes later)
The Bank of England will not necessarily wait for the US Federal Reserve to make a move on interest rates before it decides to cut rates in the UK, Andrew Bailey says. Michael Race
"There is no law that the Fed has to go first. Moreover, we have a remit and a target that is related to domestic inflation," he says. Reporting from the Bank of England
The Bank will always "take the rest of the world into consideration", but only in regard to how it affects UK inflation. The press conference has just ended here at the Bank of England.
"But there's no law which says we can only move after the Fed moves. That is not something that ever gets discussed" by Bank policymakers, Bailey adds. There were no real surprise comments from the governor and his colleagues - but there’s still lots to unpack from the Bank’s Monetary Policy Report.
Bailey was asked several times, in several different ways, whether a June interest rate cut was on the cards or not, but refused to be drawn either way.
It seems an August or September cut might be more likely, given the Bank is clear it wants to see the hard inflation figures before it makes a decision.
FacebookFacebook
TwitterTwitter
ShareView more share optionsShare this postCopy this linkRead more about these links.ShareView more share optionsShare this postCopy this linkRead more about these links.
Copy this linkCopy this link