By Shaloo Shrivastava BENGALURU (Reuters) - The Bank of England has concluded its tightening cycle and will likely keep the Bank Rate at 5.25% until at ...
By Shaloo Shrivastava BENGALURU - The Bank of England has concluded its tightening cycle and will likely keep the Bank Rate at 5.25% until at least July, a Reuters poll of economists showed,SaltWire's Atlantic regional weather forecast for September 26, 2023 | SaltWireBENGALURU - The Bank of England has concluded its tightening cycle and will likely keep the Bank Rate at 5.
Inflation was expected to rise in August but dropped to an 18-month low of 6.7%. A bigger decline was noted in core and services inflation, closely watched by the Bank. Rates will be held at the Nov. 2 announcement according to the Sept. 22-26 poll, with over 75% of economists, 47 of 62 surveyed, expecting no move.
Still, over 40% of economists, 15 of 37, who answered an extra question said the BoE should hike rates again this year. The remaining 22 said it should not. About a third of 53 economists expected the first rate cut in the second quarter next year but it wasn't until the third quarter that the majority, 34 of 48, predicted rates to be at 5.00% or lower.
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