After the death of Queen Elizabeth II, the British central bank postponed its announced interest rate decision. This is now expected on September 22. Currently, the main rate in the UK is 1.75 percent.
An increase of 0.5 percentage point is expected on the futures markets. Previously, there had been speculation at 0.75 percentage point – an interest rate recently set by the European Central Bank (ECB) and the US Federal Reserve. The Bank of England (BoE) is under pressure to act amid rapidly rising prices.
Your employees have now postponed the appointment for next Thursday by a week to September 22. The central bank in London announced this on Friday, in violation of the mourning phase after the death of the British Queen. The government had previously announced this. It must be valid until the end of the state funeral day.
Double-digit inflation
Inflation on the island is in double digits. Recently, the new Prime Minister Liz Truss presented a multi-billion dollar plan to deal with the energy crisis, which the government expects to noticeably reduce inflation. This should eventually relieve some of the pressure from the Bank of England to raise interest rates unusually sharply.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
