{"id":123236,"date":"2024-11-07T22:46:46","date_gmt":"2024-11-07T15:46:46","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=123236"},"modified":"2024-11-07T22:46:46","modified_gmt":"2024-11-07T15:46:46","slug":"bank-of-england-cuts-interest-rates-but-warns-of-sticky-inflation","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=123236","title":{"rendered":"Bank of England Cuts Interest Rates, but Warns of Sticky Inflation"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-testid=\"companionColumn-0\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">The Bank of England cut interest rates as expected on Thursday, but policymakers said that it would take longer for inflation in Britain to return to the bank\u2019s 2 percent target after the new government\u2019s budget increased spending.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The central bank lowered interest rates by a quarter point, to 4.75 percent, but emphasized that future rate cuts were likely to be very gradual as inflation pressures still persisted and <a class=\"css-yywogo\" href=\"https:\/\/www.nytimes.com\/2024\/10\/30\/business\/uk-budget-taxes-rachel-reeves.html\" title=\"\">recent tax and spending plans by the government \u2014 now led by the Labour Party<\/a> \u2014 were likely to add to price pressures. The rate cut on Thursday was the second since August, before which rates had been held at a 16-year high for about a year.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">\u201cWe need to make sure inflation stays close to target, so we can\u2019t cut interest rates too quickly or by too much,\u201d Andrew Bailey, the governor of the central bank, said in a statement.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">But, he added, if the economy evolved as policymakers expected, then rates \u201cwill continue to fall gradually from here.\u201d One member of the nine-person rate-setting committee had voted to hold rates at 5 percent.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<div data-testid=\"companionColumn-1\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Policymakers have taken a cautious approach to cutting interest rates, even as inflation dropped to 1.7 percent in September, notably below the central bank\u2019s 2 percent target.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">There are expectations that inflation will climb back above target in the next few months as gas and electricity prices increase. Several central bank officials have highlighted the risk that inflationary pressures have not been completely stamped out, making it hard to keep inflation at target in the long run.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The Bank of England\u2019s decision on Thursday came as investors and governments around the world prepared for the potential implications of the second presidency of Donald J. Trump. Although there is uncertainty about what policies Mr. Trump will enact, he has proposed higher import tariffs that would likely rock the global economy.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Central bankers will be alert to effect of higher yields on government bonds, which have jumped since the election result and tightened financing conditions, and the prospects of stronger inflation imported by their currencies weakening against the dollar.<\/p>\n<p class=\"css-at9mc1 evys1bk0\"><em class=\"css-2fg4z9 e1gzwzxm0\">This is a breaking news story. Check back for updates.<\/em><\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"\/><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.nytimes.com\/2024\/11\/07\/business\/bank-of-england-interest-rates-inflation.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of England cut interest rates as expected on Thursday, but policymakers said that it would take longer for inflation in Britain to return to the bank\u2019s 2 percent &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=123236\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-123236","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/123236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=123236"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/123236\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=123236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=123236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=123236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}