UK Holds Base Rate at 4.5%
JOON HYOUNG LEE
Summary
- The Bank of England has announced that it will hold the base rate at 4.5%.
- It was reported that 8 out of 9 members of the Monetary Policy Committee voted to hold.
- The decision by the Federal Reserve and the Bank of Japan to hold their rates is seen as having influenced the BOE's decision.
The UK has held its base rate at 4.50%.
The Bank of England (BOE) held a Monetary Policy Committee meeting on the 20th (local time) and decided to keep the base rate at 4.50%. According to Bloomberg, 8 out of 9 members of the BOE's Monetary Policy Committee voted to hold the base rate. The remaining one member voted for a 0.25% point cut.
Initially, the market predicted that the BOE would hold the base rate at this meeting. It is interpreted that the Federal Reserve (Fed) and the Bank of Japan (BOJ) holding their base rates the previous day influenced the BOE's decision.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
