Bank of England leaves interest rates at 15-year high, says it’s ‘much too early’ to think about cuts
2023-11-03 07:46:00 source：CNBC
November 2, 2023
LONDON — The Bank of England on Thursday left interest rates unchanged, but said monetary policy will likely need to stay tight for an “extended period of time.”
The Monetary Policy Committee voted 6-3 in favor of keeping the main Bank rate at 5.25%, with three members preferring another 25-basis point hike to 5.5%.
Earlier this morning, markets were pricing around an 89% chance of a second consecutive hold, according to LSEG data, after the Bank ended a run of 14 straight hikes in September.
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