Bank of England deputy governor Sarah Breeden has become less concerned about rising inflation in the UK economy and has “shifted to thinking about how long rates need to remain at their current level”. Breeden, who is also a member of the Monetary Policy Committee, was one of six policymakers who voted to leave
The Bank of England on Thursday is expected to follow the European Central Bank last week and the Federal Reserve the day before in leaving interest rates.
The Bank of England holds its first gathering for 2024 on Thursday at 12:00 GMT, a day after the respective Fed meeting. The same setup in December 2023 proved favourable for the pound as during the December 13-15 sessions it managed to record a quick 2.5% rally against the dollar. The main reason was the divergent rhetoric of the two central banks, with the market getting excited by the comments such as “the decision to hike or to hold was again finely balanced” appearing in the December BoE statement.
Vanguard's Bank of England Preview Commentary: Laying the path for rate cuts ifamagazine.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ifamagazine.com Daily Mail and Mail on Sunday newspapers.