Interest rates live: Bank of England to vote on potential cut today
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Interest rates live: Bank of England to vote on potential cut today
"(Getty Images) From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging."
"The Bank of England (BoE) could be set to reduce interest rates today after inflation stuck lower than expected last month, along with jobs data showing vacancies are still falling. That has led some economists, including from Barclays and Goldman Sachs, to predict the Monetary Policy Committee (MPC) members will vote to move from 4 per cent to 3.75 per cent."
"It is far from a sure thing, with others including RSM UK still backing a cautious approach which sees the MPC hold this time and consider a rates cut for December, while even those predicting a cut still think the vote will be split significantly. It's worth noting that any cut or subsequent bond market movements is unlikely to impact Rachel Reeves' upcoming Budget in terms of government headroom, as the OBR takes rates from a set date period which has almost certainly already passed."
The Independent covers reproductive rights, climate change and Big Tech, investigating the financials of Elon Musk's pro-Trump PAC and producing documentaries like 'The A Word' about American women fighting for reproductive rights. The outlet does not use paywalls and solicits donations to fund journalism. The Bank of England could reduce interest rates after lower-than-expected inflation and falling job vacancies. Some economists, including Barclays and Goldman Sachs, predict a cut from 4 per cent to 3.75 per cent, while others, such as RSM UK, advise caution and expect a hold. Any cut is unlikely to affect the upcoming Budget's headroom because the OBR uses rates from a set date period.
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