Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The Bank of England sees the need to keep the rate near 5.25% for a long time


August, 31 2023
watermark Economic news

According to the chief economist of the Bank of England, Hugh Pill, a more preferable option for the bank would be to keep the key interest rate close to the current level of 5.25% for a long time. The second, less favorable scenario involves an increase in the rate and its subsequent reduction. 


According to Pill, both scenarios have approximately the same effect in the context of fighting inflation, but maintaining the rate has fewer risks to financial stability. 


He also noted that the central bank's priority now is to ensure a long-term restrictive monetary policy in order to return inflation to the target level.


Recall that on August 3, the Bank of England raised its key interest rate by 25 basis points, reaching the level of 5.25%, which was the highest level in the last 15 years. Market participants in general predict that the key rate may rise to 5.75-6%.


Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.