{"id":8614,"date":"2023-11-02T12:16:08","date_gmt":"2023-11-02T12:16:08","guid":{"rendered":"https:\/\/infundpros.com\/markets\/bank-of-england-follows-fed-with-interest-rate-pause\/"},"modified":"2023-11-02T12:16:09","modified_gmt":"2023-11-02T12:16:09","slug":"bank-of-england-follows-fed-with-interest-rate-pause","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=8614","title":{"rendered":"Bank of England Follows Fed With Interest-Rate Pause"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000787744\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>The Bank of England kept interest rates unchanged on Thursday, following the Federal Reserve and the European Central Bank.<\/p>\n<p>Like the Fed, the BOE is battling inflation that hasn\u2019t returned to its target despite a series of rate hikes. Between December 2021 and August this year, the U.K. central bank lifted borrowing costs at 14 straight meetings. Now, officials say they are taking a more cautious approach as they evaluate the effects of previous hikes.<\/p>\n<div class=\"paywall\">\n<p>In September, headline inflation in the U.K. was 6.7%, more than three times the bank\u2019s 2% target. Price increases aren\u2019t slowing as quickly as they are in the U.S. or Europe, where inflation is at 3.7% and 2.9%, respectively.<\/p>\n<p>Core inflation, which strips out volatile food and energy prices, also remained uncomfortably high at 6.1% in September.<\/p>\n<p>The U.K.\u2019s interest rate stands at a 15-year high of 5.25%. And it might stay there for some time. But don\u2019t expect Governor Andrew Bailey, set to speak at a press conference after the decision, to put a fine point on whether rate hikes are over. While inflation is still high, economic growth in the U.K. is much weaker than it is in the U.S., raising the chances of recession. The central bank expects the U.K. economy to expand by 0.5% this year and next.<\/p>\n<p>Bailey, like the Fed\u2019s Jerome Powell, is likely to focus on the need to keep rates high while the consequences of previous rates play out. And Bailey is also likely to preserve the option to raise rates as needed.<\/p>\n<p>Write to Brian Swint at brian.swint@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/bank-of-england-interest-rate-decision-today-ec94e022?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of England kept interest rates unchanged on Thursday, following the Federal Reserve and the European Central Bank. Like the Fed,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":8615,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":{"0":"post-8614","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank of England Follows Fed With Interest-Rate Pause | inFundPros<\/title>\n<meta name=\"description\" content=\"The Bank of England kept interest rates unchanged on Thursday, following the Federal Reserve and the European Central Bank. 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