• 3 months ago
The Bank of England held its interest rate steady following its August cut, despite the U.S. Federal Reserve opting for a 50 basis point cut. The BOE emphasized a "gradual approach" to easing due to persistent service inflation. The British pound rose on the news, reaching its highest level since March 2022. The BOE also announced plans to reduce its bond holdings over the next year. Analysts believe this cautious approach could lead to a rate cut in November.
Transcript
00:00It's Benzinga and here's what's on the block.
00:02The Bank of England held its interest rate steady following its August cut, despite the
00:07U.S. Federal Reserve opting for a 50-basis point cut.
00:10The BOE emphasized a gradual approach to easing due to persistent inflation in services.
00:16The British pound rose on the news, reaching its highest level since March 2022.
00:20The BOE also announced plans to reduce its bond holdings over the next year.
00:25Analysts believe this cautious approach could lead to a rate cut in November.
00:28For all things money, visit Benzinga.com.

Recommended

2:14
I
Up next
The Fed's Latest Interest Rate Hike Could Set Off a 'Domino Effect' in Regional Bank Failures
TIME
0:40
European Stocks Rally After Swiss National Bank Cuts Interest Rates. US, Germany, and Britain See Increase in Bond Yields.
Benzinga
0:37
Federal Reserve Maintains Interest Rates, Citing 'Lack of Progress.' Sees Future Rate Hikes 'Unlikely.'
Benzinga
0:31
Odds Of Fed Rate Cut In December Rise, With 'Skip' In January, Following 0.25% Rate Cut
Benzinga
1:31
Federal Reserve Announces Pause On Rate Hikes Amid Easing Inflation
Wibbitz Top Stories
2:59
Federal Reserve Raises Interest Rates by a Quarter of a Percentage Point
TIME
0:30
Fed Raises Interest Rates
Benzinga
1:58
US Fed pauses rate hikes, but warns inflation risks persist
The Star
0:38
Fed Announces 0.25% Rate Cut As Inflation Eases To 2% Target
Benzinga
0:53
Federal Reserve Raises Interest Rates to Highest Level in Over 22 Years
Benzinga
0:36
Fed Chair Jerome Powell Hints at Possible Interest Rate Cut in September
Benzinga
0:33
U.K. Inflation Falls To 1.7% in Sept, Spurs Hopes For BOE Rate Cut
Benzinga
0:33
Fed Expected to Keep Interest Rates High as Optimism Remains High for September Rate Cuts
Benzinga
1:48
US Fed rate cut splits opinions just weeks before election
AFP English
2:52
Economists expect Reserve Bank to keep interest rates on hold
ABC NEWS (Australia)
1:42
US Federal Reserve raises rates to 22-year-high as it continues fight against inflation
euronews (in English)
0:58
US Inflation Eases More Than Expected In May, Boosts 2024 Rate Cut Prospects Ahead Of Wednesday's Fed Meeting
Benzinga
0:34
U.S. Bonds Sell-Off Mirrors Alan Greenspan's 1995 Soft Landing As Two-Year Yields Surge
Benzinga
0:41
'The Fed Is Lagging And Knows It,' Says Grant Cardone, Hinting At December Surprise Rate Slash
Benzinga
0:25
U.S. Treasury Releases Bond Rates
Benzinga
3:55
As Fed battles inflation demon with aggressive rate hikes, economy hangs in balance - 1breakingnews.
1BN-General
0:43
Druckenmiller Wary of Fed's Overdoing Rate Cuts After Jobs Data. Payrolls Increase, Lower Unemployment Shift Fed Expectations.
Benzinga
0:40
Fed Minutes Show Divisions on Aggressive Rate Cuts. Treasury Yields Surge On Fed Action
Benzinga
0:58
Interest rates just went up 0.5%! #shorts
Bullish Studio
8:58
Inflation Is Falling, Will The Fed Cut Rates Soon?
Benzinga