The Bank of England (BoE) decided to maintain its benchmark tax rate at 5.25%, the British central bank reported in a statement this fifth week. In its meeting ending the fourth fair, the BoE’s Monetary Policy Committee (MPC) voted, by a majority of 6 to 3, to keep taxa juro in the UK. Three members preferred to increase their pledge by 0.25 percentage points.
Inflation in the UK hit 6.7% on a 12-month basis in September, still above the 2% target, but is expected to fall sharply to 4.75% in the fourth quarter (4th quarter) of this year to 4.5% in the quarter First. in 2024, the second after the BoE declaration.
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“This decline is expected to be explained by low inflation in the prices of energy products, two basic goods and two foodstuffs, and after January, there will be slight inflation in the services sector,” strengthens the MPC’s statement.
The UK economy will remain stable in the third quarter of this year, the BoE said, noting that some surveys conducted by the firm showed a slight decline in output in the fourth quarter, but others were less pessimistic.
“The latest MPC project suggests that monetary policy may need to be restrictive for a long period of time. “Greater awareness in monetary policy will be needed if there is evidence of more persistent inflationary pressures,” he said.
Xinhua Agency
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