The Bank of England (BoE) announced on Thursday that it has maintained the policy rate at 5%, following the anticipated outcome of its September policy meeting. The decision aligns with market expectations as the central bank continues to evaluate economic conditions in the United Kingdom.
Key Highlights:
The BoE opted to keep its interest rate at 5.0%, unchanged since the last hike in August.
This decision comes after the UK’s annual inflation rate held steady at 2.2% in August, remaining above the BoE’s 2% target.
The Bank's focus remains on controlling inflation, as well as assessing the pace of bond sales and future policy actions.
While this meeting did not include a Monetary Policy Report or a press conference from BoE Governor Andrew Bailey, the policy decision is expected to have a significant impact on the Pound Sterling's performance.
Traders and analysts will closely monitor future policy cues, as the BoE evaluates the balance between inflationary pressures and economic growth in the coming months.
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