Bank of England Hold Interest Rates: What You Need to Know
Less than 24 hours after the dovish Fed decision, the Bank of England is set to stand out by holding interest rates – but the majority size is uncertain. Join us for live coverage of this crucial event.
Bank of England has reasons to be hawkish
The Bank of England (BoE) initiated its hiking cycle in August, with Governor Andrew Bailey’s critical vote in the tight 5:4 decision. This hawkish stance is expected to be followed by a decision to leave rates unchanged at 5%, positioning Sterling above the Fed range of 4.75-5.00% and giving it an advantage over the US Dollar and other currencies.
- UK core inflation remains steady at 3.6%, providing ammunition for the hawks.
- Only two out of nine members are projected to support a second consecutive cut, potentially resulting in a narrower 6:3 majority.
- Britain’s labor market is robust, and other indicators suggest stability, supporting a hawkish decision.
Live financial market coverage
Stay updated with major economic releases in a live blog format on FXStreet, where you can receive an instant verdict of the data, rapid analysis of key assets, and the opportunity to ask our experts questions in real time.
FXStreet Premium
Unlock access to analysts, exclusive actionable analysis, signals, webinars by Ed Ponsi, trade plans, and a bullish/bearish indicator for Gold on critical events with FXStreet Premium. Join now for premium insights and benefits.