Bank of England (BoE) Governor Andrew noted late Friday that inflation still remains a key sticking point for the UK's central bank, though many price pressures have eased faster than the BoE initially feared.
The UK economy continued to rebound cautiously from a recession. GDP grew by 0.6% q/q in 2Q24, after rising by 0.7% q/q in 1Q24.
In an Economics Show podcast with the Financial Times (FT), Bank of England (BoE) policymaker Catherine Mann warned that “UK wage growth is still a concern for inflation.”
The Bank of England (BoE) announced on Thursday that it cut the policy rate by 25 basis points to 5% from 5.25%. Policymakers voted 5-4 in favor of the decision, with BoE Monetary Policy Committee (MPC) members Pill, Greene, Mann and Haskel voting to keep rates on hold.
The Bank of England (BoE) announced on Thursday that it left the policy rate unchanged at 5.25%, as widely expected.
The Bank of England (BoE) adhered to market expectations by maintaining its policy rate at 5.25% during its Super Thursday event, aligning with the consensus forecast. In the Monetary Policy Committee (MPC) vote, there was an 7-2 decision in favour of keeping rates unchanged, with MPC members Ramsden Dhingra advocated for a 25 bps rate cut.
Founded in 1694, the Bank of England (BoE) is the central bank of the United Kingdom. Sometimes known as the ‘Old Lady’ of Threadneedle Street, the Bank’s mission is "to promote the good of the people of the United Kingdom by maintaining monetary and financial stability".
The Bank of England is responsible for keeping the UK’s economy on the right track. They operate monetary policy by moving Bank Rate up and down and, in certain circumstances, we also supplement this with measures such as quantitative easing.
The official website, on Twitter and YouTube
Andrew Bailey is Governor of the BoE and Chairman of the Monetary Policy Committee, Financial Policy Committee and the Prudential Regulation Committee. The Governor joined the Bank on 16 March 2020. His appointment as Governor was approved by Her Majesty the Queen.
Bailey on his profile and Wikipedia
The World Interest Rates Table reflects the current interest rates of the main countries around the world, set by their respective Central Banks. Rates typically reflect the health of individual economies, as in a perfect scenario, Central Banks tend to rise rates when the economy is growing and therefore instigate inflation.