Bank of England is set to cut interest rates despite potential new inflation worries [Yahoo! Finance Canada]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
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Source: Yahoo! Finance Canada
However, economists warn that worries about the future path of prices following last week's tax-raising budget from the new Labour government and the economic impact of U.S. President-elect Donald Trump may limit the number of cuts next year. For now though, the Bank of England is widely expected to reduce its main interest rate by a quarter of a percentage point to 4.75%. In August, the bank's nine-member Monetary Policy Committee cut borrowing costs for the first time since the early days of the coronavirus pandemic in the spring of 2020. Central banks worldwide dramatically increased borrowing costs from near zero during the pandemic when prices started to shoot up, first as a result of supply chain issues built up and then because of Russia's full-scale invasion of Ukraine , which pushed up energy costs. As inflation rates have recently fallen from multi-decade highs, these central banks started cutting interest rates. Analysts said that policymakers are likely confident th
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