The Bank of England meets on 20th June 2024 to set interest rates.
Will they be kept on hold yet again? Will the next move be up or down, and will the fact that this is an election year influence the decision?
Here are some markets on other UK economic stats:
/SimonGrayson/will-the-uks-monthly-gdp-figure-pub-64ca6ab09495
/SimonGrayson/how-high-will-the-uks-cpi-inflation-f03c29d09f88
🏅 Top traders
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Interest rates held at 5.25% for another month!
There are rumblings that the decision was closer this time even if the voting itself wasn’t any closer. The next meeting will be the first one under a new government - will it also be the first meeting for some time where we see rates drop?
/SimonGrayson/will-the-bank-of-england-change-the-dzep0jjomt
https://uk.finance.yahoo.com/news/uk-interest-rates-bank-england-general-election-050000817.html
Thursday's decision is all but certain to leave interest rates unchanged as most economists think it is very unlikely that the Bank of England would be willing to start cutting interest rates in the middle of an election campaign.
Threadneedle is in a holding position as it abides by the rules of the pre-election campaign period, meaning its policymakers cannot make any speeches or public statements. This period of silence makes a rate cut in June an unlikely move.
Sandra Horsfield, an economist for Investec, said this matters because were policymakers to “surprise the market” with its decision on Thursday, it would not be in a position to “correct any misinterpretations” about its rates decision until after the general election, which is on 4 July.