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The Bank of England’s head office in London, Britain (Photo: Reuters/Smejkowska)
In the hours before the interest rate meeting, the pound fell as the dollar rose significantly along the line decided by the Federal Reserve.
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The Bank of England kept interest rates on the pound sterling unchanged at 5.25 percent. The decision comes in line with prevailing expectations, as a minority of experts expected a new increase of 50 basis points.
Inflation in Great Britain remains high, although it unexpectedly fell to 6.7% (the lowest rate in the past 18 months) from 7.9% according to the latest official data released on September 20, due to lower hotel costs, airline tickets and ticket prices. Slowing increase in food prices.
The Bank of England (like the European Central Bank) also has a price stability target of 2 per cent. At the beginning of August, the Bank of England Raising interest rates by 25 basis points to 5.25%Recording at that time the 14th consecutive increase in the cost of money.
In the hours before the Bank of England’s interest rate meeting, the price of the pound sterling fell, influenced by the dollar, which was significantly strengthened by monetary stimulus.Announcement from the Federal Reserve The desire to keep US interest rates stable at 5.25%, and British inflation data – released on September 20 – is weaker than expected.
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