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Added on the 02/11/2023 14:14:09 - Copyright : AFPTV - First images
The Bank of England's governor announces a cut to its main interest rate for the first time since the Covid pandemic broke out in 2020, as British inflation has retreated in recent months. Andrew Bailey called it a "finely-balanced" decision, with policymakers agreeing on a cut by five votes to four. Bailey added, "we need to be careful not to cut rates too much or too quickly". SOUNDBITE
The Bank of England holds its interest rate at a 16-year high, insisting it was not yet the right time to cut with inflation staying high despite a fall to just above three percent. "That's encouraging. But we are not yet at a point where we can cut bank rates," he tells a press conference. IMAGES
The US Federal Reserve votes to hold interest rates at a 22-year high for the third straight meeting and signaled it expects to make three cuts next year. SOUNDBITE
The Bank of England announces in a press conference it is hiking its key interest rate by 0.75 percentage points, the biggest increase in 33 years, to fight inflation set to peak around 11 percent in recession-hit Britain. The latest rate hike mirrors aggressive rate-tightening by central banks worldwide as economies battle the highest prices in decades. SOUNDBITE
Federal Reserve chair Jerome Powell says that the "time has come" for the United States to start cutting interest rates. "The time has come for policy to adjust," he says in a keynote speech at the Jackson Hole Economic Symposium in the US state of Wyoming, according to prepared remarks, adding: "The direction of travel is clear." SOUNDBITE
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