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  • UK Bank Rate maintained at 5% - September 2024

    From bankofengland.co.uk

    The Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. The MPC adopts a medium-term and forward-looking approach to determine the monetary stance required to achieve the inflation target sustainably. At its meeting ending on 18 September 2024, the MPC voted by a majority of 8–1 to maintain Bank Rate at 5%. One member preferred to reduce Bank Rate by 0.25 percentage points, to 4.75%. The Committee voted unanimously to reduce the stock of UK government bond purchases held for monetary policy purposes, and financed by the ... (full story)

Interesting choice by BOE. So far, among the only central banks that are actually trying to get inflation under control. They will fail as well, because they are meant to fail, however not cutting rates now after the Fed cut by 50bps is interesting. Maybe BOE will start cutting by 50bps or 75bps soon, we'll see...
Press conference expected to be Dovish. Inflation is still not under control yet.
Quoting frioslegend
Press conference expected to be Dovish. Inflation is still not under control yet.
I can't find the Press on the Calendar. Is there even going to be one or?
theres an inflation problem, I can almost guarantee they can't get it to 2% anytime soon by the existing printed data
#doyourownanalysisordietryin
Inflation is running at least double the target even though the headline has fallen. You really need to see negative reads to change the 12 month outlook.
also, QT is bullish rates

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#doyourownanalysisordietryin
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