Interest rates cut... but don't expect more straight away

Quick Summary:

Rates have been cut, but the message from the Bank of England is not to expect more reductions immediately.

So far they seem relaxed, with insiders suggesting that it is private sector wages that set the benchmark for public sector ones, not the other way around.

It is opportune timing for the new chancellor and government, with a strong pound helping contain some inflationary pressures from imports.

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Article Details

Category: Business

Markets: United Kingdom

Topics: Government Been Interest Sector Rates Bank Inflationary Start Inflation Years England

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-01 @ 12:35:31 (15 hours ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 521 words

Reading Time: 3 minutes read

Sentences: 25 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BBC Business

News ID: 21886644

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About BBC Business

Main Topics: Business

Official Website: bbc.co.uk

Update Frequency: 7 posts per day

Year Established: 1922

Headquarters: United Kingdom

News Last Updated: 14 hours ago

Coverage Areas: United Kingdom

Ownership: Independent Company

Publication Timezone: GMT +0:00

Content Availability: Worldwide

News Language: English

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Website Security: Secure (HTTPS)

Publisher ID: #43

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