RE: Bofe mpc....19 Sep 2024 12:42
"While the Bank did not follow the Fed’s lead, Andrew Bailey, the Bank’s governor, flagged that further rate cuts were coming.
“The economy has been evolving broadly as we expected,” he said. “If that continues, we should be able to reduce rates gradually over time.”
The minutes confirmed that most members of the MPC thought a “gradual approach” to dialling back restrictiveness was warranted given the state of the economy.
The decision comes a day after new figures showed inflation remained just above the two per cent target, pushed up by strong services inflation. "................................gla