A SUMMER boost of lower interest rates could be on the way after the Bank of England said it was “optimistic” that inflation is falling.
The Bank of England yesterday left interest rates on hold at 5.25% but strongly hinted at a cut this summer - possibly as soon as next month.
Like the Federal Reserve, the Bank of England is battling inflation. However, Governor Andrew Bailey is a little more optimistic about future rate cuts than Fed Chair Jerome Powell.
With charts, data and vibes, we will prove: eh, probably not, but maybe more than they used to be
Interest rates are locked in at a 16-year high
On Thursday the Bank of England held rates at the same level for the sixth time
London’s FTSE 100 hit a new all-time high after the Bank of England revealed it was keeping interest rates at 5.25% for another month.
Andrew Bailey told the BBC the recession was "mild" as figures on the economy are released Friday.
Gaps make it much harder to tell how fast inflationary pressures are receding
The Bank of England said it was not yet at the point where it can start cutting rates, opting instead to hold them steady at 5.25%.
Bank of England governor Andrew Bailey is briefing reporters after BoE left UK interest rates on hold again in a dramatic 7-2 split