Bank of England leaves interest rates at 15-year high, says it's 'much too early' to think about cuts
Publishing timestamp: 2023-11-02 11:00:57
Summary
The Bank of England has decided to keep interest rates unchanged but stated that monetary policy will likely need to stay tight for an extended period of time. Inflation has weakened, economic activity has softened, and the labor market has shown signs of loosening. The bank expects inflation to return to its 2% target in the next two years. Some strategists believe that the bank is done with hiking rates and may consider rate cuts in the future. The decision has been seen as a small relief for markets, but the overall economic situation in the UK remains uncertain.
Sentiment: MIXED
Keywords: inflation, business news, british 2 year gilt, central banking, breaking news: europe, u.s. 10 year treasury, breaking news: economy, economy, interest rates,
Source: https://www.cnbc.com/2023/11/02/bank-of-england-leaves-interest-rates-unchanged.html