Bank of England widely expected to hold interest rates despite big US Fed cut ...Middle East

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Associated Press LONDON (AP) — The Bank of England is widely expected to keep interest rates unchanged later Thursday despite a big cut from the U.S. Federal Reserve, its first since the onset of the coronavirus pandemic more than four years ago. Most economists think that a majority of the nine-member Monetary Policy Committee, will opt to keep the bank’s main interest rate unchanged at 5% amid ongoing concerns about inflation, particularly the elevated levels in the crucial services sector, which accounts for around 80% of the British economy. The Bank of England is widely expected to reduce borrowing costs again at its next meeting in November, especially as it will have details of the

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Last updated : 19 September 2024 clock 12:17 PM

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Bank of England widely expected to hold interest rates despite big US Fed cut ...Middle East

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