The Bank of England plans a gradual interest rate reduction to manage rising inflation risks.

The Bank of England is planning a "gradual" reduction in interest rates to manage inflation risks, which have risen to 2.3%, with services inflation at 5%. Deputy Governor Clare Lombardelli highlighted concerns about potential inflationary cycles and economic slowdowns, emphasizing the need to closely monitor data for policy adjustments. The Bank is also overhauling its operations, including its interest rate setting and communication methods, without publishing future interest rate forecasts.

November 25, 2024
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