Bank of England leaves rates unchanged as expectations for rate cuts increase

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Bitget2024/05/09 18:45

European stocks hit new highs on Thursday, with Europe's Stoxx 600 index rising for a fifth consecutive day, closing up 0.2 percent. The FTSE 100, Britain's benchmark index, closed up 0.3%. The Bank of England left interest rates unchanged at 5.25% today, as the central bank moves closer to its goal of cutting rates from a 16-year high.Tom Hopkins, senior portfolio manager at BRI Wealth Management, said optimistic expectations for a summer rate cut will increase if U.K. inflation continues to trend lower.

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