Bank of England cuts interest rates from 16-year high as inflation eases

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Bank of England cuts interest rates from 16-year high as inflation eases - Business Standard

Quick Summary:

The BoE forecasts were based on market expectations which show interest rates falling to about 3.7 per cent by the end of 2026.

Services inflation came in well above the BoE's forecasts in June, but the BoE put this down to "volatile components" and regulated prices that were influenced by high headline CPI earlier in the year.

The BoE estimated that its bond sales had contributed 0.1-0.2 percentage points to a 2.75 percentage point rise in 10-year gilt yields between February 2022 and June 2024.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.