Bank of England holds rates steady, but a summer cut could still be in the cards | Metals Mine

  • Bank of England holds rates steady, but a summer cut could still be in the cards

    From cnbc.com

    The Bank of England kept its key interest rate on hold at 4.25% during its Thursday meeting, with economists expecting the central bank to wait until August before it cuts again. Six out of nine of the BOE’s monetary policy committee opted to hold rates with three opting for a 25-basis-points cut. “Underlying UK GDP [gross domestic product] growth appears to have remained weak, and the labour market has continued to loosen, leading to clearer signs that a margin of slack has opened up over time,” the central bank said in a statement. “Measures of pay growth have continued to moderate and, as in May, the ... (full story)

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