The Bank of England is expected to raise its key interest rate for a 15th straight time Thursday but the possibility of a pause has surfaced after a surprise dip in UK inflation.
The BoE had been widely tipped to raise borrowing costs again heading into this week’s monetary policy meeting until official data Wednesday on consumer prices in August clouded the outlook.
The UK central bank is announcing its decision a day after the US Federal Reserve held interest rates steady but has said another hike is likely in 2023, with fewer cuts in 2024.—AFP
