Central Banks
BOE Set to Keep Rates at 16-Year High as Inflation Cools
- Decision due at 12 p.m. in London unlikely to shift guidance
- Policy makers weigh when to shift toward reducing rates
The Bank of England (BOE) in the City of London.
Photographer: Betty Laura Zapata/BloombergThis article is for subscribers only.
The Bank of England is likely to keep interest rates at a 16-year high, giving more time for inflationary pressures to cool before it loosens up on the quickest tightening cycle in decades.
Economists and investors expect the nine-member Monetary Policy Committee to hold the key lending rate at 5.25% and also to leave in place guidance that opens the way for cuts in 2024 if key measures of inflation and wages continue to ease.