<\/p>\n
The Bank of England voted 7-2 to keep interest rates unchanged at 4%, as expected, at its meeting moments ago today, Thursday, September 18, while two members favored a 25 basis point cut.
\nThe Committee also voted 7-2 to reduce the stock of UK government bond purchases allocated for monetary policy purposes by \u00a370 billion over the next 12 months, totaling \u00a3488 billion.
\nThe Bank’s interest rate report stated that inflation has declined significantly over the past two years, and that progress has been made in easing wage pressures. The Consumer Price Index (CPI) over the past 12 months reached 3.8% in August and is expected to rise slightly in September before declining to the 2% target thereafter. The Committee remains mindful of the risk that this temporary increase in inflation could lead to upward pressures. The committee voted at the meeting to maintain the interest rate at 4%. A cautious, gradual approach to further easing monetary policy remains appropriate, and the timing and pace of future cuts will depend on the outcome.<\/p>\n
<\/p>","protected":false},"excerpt":{"rendered":"
The Bank of England voted 7-2 to keep interest rates unchanged at 4%, as expected, at its meeting moments ago today, Thursday, September 18, while two members favored a 25 basis point cut. The Committee also voted 7-2 to reduce the stock of UK government bond purchases allocated for monetary policy purposes by \u00a370 billion […]<\/p>\n","protected":false},"author":1,"featured_media":8379,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-8378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-currency-markets"],"acf":[],"yoast_head":"\n