Bank of England expected to slow bond-selling programme and hold interest rates today – business live
Rolling coverage of the latest economic and financial news Bank of England urged to slow or halt bond-selling to slash UK borrowing costs The Guardian view on the Bank of England’s £120bn bill: power without accountability Today’s interest rate decision comes at an increasingly difficult point for UK policymakers, says Daniela Hathorn , senior market analyst at Capital.com : This week’s data has…
The Bank of England is expected to reduce the pace of its bond-selling programme and maintain current interest rates today, according to live business coverage. Daniela Hathorn, senior market analyst at Capital.com, notes that the UK is facing a complex situation with inflation rising above target and producer costs accelerating.
However, the labor market appears to be softening, creating a challenging trade-off between preventing a second inflation wave and avoiding further damage to an already fragile economy. Unlike quantitative easing, which aims to lower interest rates and support inflation, the Bank's quantitative tightening (QT) is designed to preserve the ability to implement QE in the future, should it become necessary to meet the inflation target.
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