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Bank of England keeps interest rates unchanged
Written By: Landmarc News Service
- Updated Thursday May 09 2024
Bank of England keeps interest rates unchanged
The Bank of England has kept interest rates steady at 5.25%. Although this was in line with expectations and prudent given the US Fed has kept rates unchanged, it is a continuation of the highest interest rates that Bank of England has set in the past 16 years.
Possibility of moderate rate cuts looks high in the next meeting which is scheduled to take place in August of this year.
The UK Economy has been buffetted with recession as GDP shrank in the last 2 quarters in CY 2023. Hopes for a revival are pegged on a monetary policy that will boost productivity and growth.
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