The Bank of England postponed the announcement of the decision on the discount rate until September 22
[ad_1]
The Bank of England decided to postpone the meeting on the discount rate for a week in connection with the death of Queen Elizabeth II, the corresponding statement appeared on the regulator’s website. The rate decision will be announced on September 22.
“Due to the period of national mourning currently in place in the United Kingdom, the meeting of the Monetary Policy Committee in September 2022 has been postponed by one week,” the statement said.
The last time the regulator raised the key rate at a meeting in early August by 0.5 percentage points. — from 1.25% to 1.75%. The Bank of England began to consistently raise the rate in December 2021, then it increased it from 0.1% to 0.25%. In February 2022, the rate increased to 0.5%, in March to 0.75%, in May to 1%, and in June to 1.25%.
According to the latest data from the UK Office for National Statistics, in July, inflation in the country accelerated to 10.1% from 9.4% in June and updated a 40-year high. Earlier, Bloomberg reported that the Bank of England expects inflation to accelerate above 13% by the end of the year.
The day before, on September 8, the European Central Bank decided to raise the key rate by 0.75 percentage points at once. — up to 1.25%, which will allow inflation to return to the medium-term target of 2% as soon as possible. According to the results of August, consumer inflation in the eurozone countries became a record for the entire existence of the single European currency since January 1, 1999, follows from the data of Eurostat published on August 31. It reached 9.1% year on year.
Earlier, speaking at the Eastern Economic Forum (WEF), head VTB Andrei Kostin said that in the near future the key rate in Russia could be reduced to 7%, now it is 8%. The previous time the Board of Directors of the Bank of Russia reduced it by 1.5 percentage points. at the July 22 meeting. The next key rate meeting will be held on September 16.
Subscribe on Vedomosti on Telegram and stay up to date with the main economic and business news.
[ad_2]
Source link
