Bank of England to cut rate
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The Bank of England cut interest rates on Thursday after a narrow vote by policymakers but it signalled that the already gradual pace of lowering borrowing costs might slow further.
Investing.com - U.S. stock futures trade mostly higher Thursday, helped by a positive update from chipmaker Micron, but the release of the latest U.S. inflation data could easily swing sentiment. Europe sees a number of central bank policy meetings, with the Bank of England likely to be the only one to ease monetary policy.
The 25 bp cut on Dec 18 will bring the BOE’s rate to 3.75%, and is suggested as Britain’s ‘neutral rate’ Read more at The Business Times.
The FTSE 350 index of retailers led gains, up 0.9%. Currys jumped 10.3% after the electrical retailer reported a more than doubling in first-half profit. Frasers Group and Moonpig Group were up 2.2% and 1%, respectively.