Bank of England freezes rate after jumbo US cut

Bank of England freezes rate after jumbo US cut …C0NTINUE READING HERE >>>

Bank of England policymakers voted 8-1 for no rate change, having narrowly backed an August cut.
Photo: Ben Stansall / AFP/File
Source: AFP

The Bank of England on Thursday kept its key interest rate at 5.0 percent, deciding against consecutive cuts one day after a bumper reduction from the US Federal Reserve.

Following a regular meeting BoE governor Andrew Bailey said the central bank needed “to be careful not to cut too fast or by too much”, as UK inflation stays above its target.