BoE's Pill: Bank rate to stay on hold or even fall if growth stalls next year
Bank of England (BoE) Chief Economist Huw Pill said on Friday that "nothing is baked in" for interest rates next year, adding that he expects the outlook to become more uncertain from spring, per Reuters.
Key takeaways
"There is no preset upward path for interest rates from spring and beyond."
"Possible that bank rate would stay on hold or even fall if we saw stalling of growth next year."
"Key determinant will be margin squeeze on companies and how companies react."
Market reaction
GBP/USD remains under bearish pressure following these comments and was last seen trading at 1.3390, losing 0.45% on a daily basis.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
After the sharp decline in tech stocks, the White House suddenly canceled the top tech advisor meeting the following day.
The White House has canceled the previously scheduled President’s Council of Advisors on Science and Technology meeting, which was set for Friday and includes prominent tech leaders such as Nvidia CEO Jensen Huang and Meta CEO Mark Zuckerberg. The Department of Energy's meeting page briefly listed November 13 as the new meeting date, but the agency later sent an email retracting this information. Currently, the specific date for rescheduling the meeting remains unclear.
Turtle Creek Asset Management Reports Sale of $347,850 in Jeld-Wen Common Shares
GLOBALFOUNDRIES Director Ganesh Moorthy Reports $93,687.50 Share Acquisition
Crypto prices
More
