The Bank of England is widely expected to keep interest rates unchanged later Thursday despite a big cut from the U.S. Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago
The Bank of England is widely expected to announce it is keeping interest rates unchanged later Thursday despite a big cut from the U.S. Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago.
Most economists think that a majority — potentially a small majority — of the nine-member Monetary Policy Committee, will opt to keep the bank’s main interest rate unchanged at 5% amid ongoing concerns about inflation, particularly the elevated levels in the crucial services sector, which accounts for around 80% of the British economy.
Figures on Wednesday showed that inflation overall in the U.
