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Recent Articles

Bank of England Maintains Interest Rates Amidst Inflation Concerns: Multiple Cuts Expected in Coming Quarters

Bank of England Maintains Interest Rates Amidst Inflation Concerns: Multiple Cuts Expected in Coming Quarters

Broke On: Thursday, 09 May 2024 The Bank of England kept interest rates at 5.25% despite rising inflation concerns and expectations for multiple cuts in the coming quarters. UK inflation was reported at 3.2%, above the BOE's target, with recent stronger-than-expected data exacerbating concerns. Governor Andrew Bailey indicated that decreasing inflation due to tighter financial conditions offers encouragement, but markets now predict 59 basis points of cuts through 2024.