“Bank of England” keeps the interest stable amidst universal economic determination
The Bank of England has kept interest rates at 4.5 per cent, warning against the UMP halves to reduce them during the upcoming meetings, and the state of affecting the British and global economies is in light.
With the rise of global trade tensions raised by the United States, the Monetary Policy Committee voted for 8 votes to prevent interest rates, only foreign member Swati Dengra, who voted in favor of a quarter percentage.
Many economists, Reuters and their views have been exposed to vote by a majority of 7 votes.
In a statement, Governor Andrew Billy said: “There is so much economic uncertainty at the present time,” the Bank of England still believe that interest rates will gradually take up the descending path, but it continues to monitor the development of local and global economies at every six weeks of every six weeks.
The Monetary Policy Committee said it hopes to continue inflation pressure, but it is clear that “the monetary policy is going on in a pre -determined path in the next few meetings.”
Economists who surveyed their views expressed that the bank’s interest rate was not changed to 4.5 percent at the March meeting, with the following reduction in May, with other deductions in August and November.
The committee has repeated its orders since February, which has been following the “gradual and careful policy” towards further interest rate cuts.
The Committee has suggested to increase uncertainty about the global trade policy after announcing a set of customs duties on imports, leading to revenge reactions from some other countries.
At the same time, the American Federal Reserve Council has reduced its expectations for economic growth this year and increased its expectations for inflation, and emphasizing that the uncertainty surrounding the economy was increased.
The Bank of England said the elements of other geographical political uncertainty were also increased, and the huge plans developed by the German economy were mentioned.
In internal affairs, the Committee has suggested that the tax growth services sector imposed on the owners of the British government could lead to an increase in prices, and the opinion elections have also shown two -time employment motives.
The Bank of England is expected to reach 3.75 percent in the third quarter because its slight increase in its previous expectations, which is 3.7 percent.
Although the inflation rate in the UK still exceeds its target (and increased to 3 per cent in January), the Bank of England has reduced the cost of lowering loans than the European Central Bank and FBI since last summer, which has slowed down the country’s economic growth.
The Central Bank has increased its expectations for economic growth in Britain in the first three months of 2025, compared to its previous expectations, which is 0.1 percent.
In the relevant context, the Monetary Policy Committee continues his speech of Rachel Reeves, updating the budget next Wednesday, which is expected to announce discounts in government spending plans, which is a major factor in British economic growth expectations.
