Benzinga
Benzinga
  • 2 months ago
The Bank of England held its interest rate steady following its August cut, despite the U.S. Federal Reserve opting for a 50 basis point cut. The BOE emphasized a "gradual approach" to easing due to persistent service inflation. The British pound rose on the news, reaching its highest level since March 2022. The BOE also announced plans to reduce its bond holdings over the next year. Analysts believe this cautious approach could lead to a rate cut in November.
Transcript
00:00It's Benzinga and here's what's on the block.
00:02The Bank of England held its interest rate steady following its August cut, despite the
00:07U.S. Federal Reserve opting for a 50-basis point cut.
00:10The BOE emphasized a gradual approach to easing due to persistent inflation in services.
00:16The British pound rose on the news, reaching its highest level since March 2022.
00:20The BOE also announced plans to reduce its bond holdings over the next year.
00:25Analysts believe this cautious approach could lead to a rate cut in November.
00:28For all things money, visit Benzinga.com.

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