• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Investing

Bank of England cuts rates by 0.25% amid Labour’s budget impact

by November 7, 2024
written by November 7, 2024

The Bank of England reduced interest rates by 25 basis points on Thursday, even as Labour’s expansive budget announcement complicates the prospects for future policy easing.

The decision to lower the bank’s main rate to 4.75% was supported by an 8-1 vote among policymakers.

This marks the central bank’s second rate cut this year, following the start of its easing cycle in August.

Financial markets had already anticipated a 97% likelihood of this quarter-point cut at the November meeting.

However, analysts have cautioned that further cuts might be postponed due to the government’s new tax-and-spend budget.

Investors are now eager for insights from Governor Andrew Bailey and other bank officials on their updated economic projections, especially in light of the budget and the U.S. presidential election.

Goldman Sachs noted last Thursday that “the outlook for stronger growth in 2025 could lessen the urgency for continuous rate cuts in the short term.”

After pausing rate changes at their September meeting, policymakers indicated a “gradual approach” to easing. However, a significant drop in inflation to 1.7% and slowing wage growth had led economists to anticipate a quicker pace of cuts before the budget was unveiled.

These expectations shifted after U.K. Finance Minister Rachel Reeves introduced £40 billion ($51.41 billion) in tax increases and revised the U.K.’s debt guidelines. The Office for Budget Responsibility (OBR) has warned that these measures could lead to higher short-term growth and inflation.

The post Bank of England cuts rates by 0.25% amid Labour’s budget impact appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
‘Down to the wire’: Steve Scalise predicts House control may be decided today
next post
Dow, S&P, Nasdaq hit record highs ahead of Fed decision; Lyft surges 28%, DJT gives up gains

related articles

Asian markets close: Nikkei, Kospi down; Sensex closes...

May 19, 2025

Qualcomm unveils AI chips for data centres with...

May 19, 2025

Best crypto to buy now: Bitcoin Pepe leads...

May 19, 2025

JPMorgan cuts Netflix rating, citing balanced risk-reward post-rally;...

May 19, 2025

Bitcoin ETF open interest dips 5% to $29.47B...

May 19, 2025

US stocks slip in the red on Monday:...

May 19, 2025

Should Klarna IPO remain on watch list after...

May 19, 2025

Why this brokerage downgraded UnitedHealth’s rating to ‘hold’

May 19, 2025

Nvidia opens NVLink Fusion ecosystem, expands Taiwan footprint...

May 19, 2025

Cathie Wood says Trump’s tariffs could unlock tech...

May 19, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Watchdog finds ‘no evidence’ Biden knew of crucial climate EOs, demands answers on who signed autopen

    May 28, 2025
  • Federal judge hints she will continue blocking Trump from firing head of whistleblower protection agency

    February 26, 2025
  • Did Apple’s slow AI progress prompt Buffett to sell?

    August 6, 2024
  • Rent the Runway: Fashion Leader with Stock on the Rise

    August 27, 2024
  • Pro-life leaders urge Trump to reverse his IVF stand, say the technology is ‘not pro-life’

    February 19, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,723)
  • Investing (624)
  • Stock (773)

Latest Posts

  • Wes Moore, considered a rising star among Democratic governors, endorses Kamala Harris

    July 22, 2024
  • Complex partial seizure ruled as cause of pausing episode during House floor speech, Dem congressman says

    February 12, 2025
  • Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

    August 9, 2024

Recent Posts

  • The Hitchhiker’s Guide to the meaning of a Republican Senate – and What’s Ahead for the House

    November 6, 2024
  • Wall Street expects Trump presidency will unlock deal-making

    November 8, 2024
  • Leader Thune backs Senate GOP bid to speed past House on Trump budget plan

    February 6, 2025

Editor’s Pick

  • A Silicon Valley exec had $400K stolen by cybercriminals while buying a home. Here’s her warning.

    July 24, 2024
  • DAVID MARCUS: Sorry Kamala, voters aren’t buying your Trump Hail Mary

    October 20, 2024
  • Moderate House Dems push for crackdown on noncitizens voting in US elections

    July 26, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock