Bank of England to finally cut interest rate?
The BoE hiked borrowing costs 14 times between late 2021 and the second half of last year – Copyright AFP Ben Stansall
Ben PERRY
The Bank of England announces its latest interest-rate decision Thursday, with analysts split on whether it will cut for the first time since the Covid pandemic after inflation’s retreat.
The conclusion of a regular policy meeting will see whether the BoE trims borrowing costs, currently at a 16-year high of 5.25 percent, by a quarter point with Britain’s annual inflation rate having returned to the central bank’s two-percent target.
Ahead of the decision, the US Federal Reserve on Wednesday left its key lending rate unchanged, but noted “some further progress” had been made in bringing inflation down.
Other major central banks,
