“Bank of England ends run of 14 straight interest rate hikes after cooler-than-expected inflation”
September 21, 2023
“The Bank of England on Thursday ended a run of 14 straight interest rate hikes after new data showed inflation is now running below expectations. The Bank had been hiking rates consistently since December 2021 in a bid to rein in inflation, taking its main policy rate from 0.1% to a 15-year high of 5.25% in August. The British pound dropped 0.7% against the U.S. dollar shortly after the decision…
The MPC also unanimously votes to cut its stock of U.K. government bond purchases by £100 billion ($122.6 billion) over the next 12 months, to a total of £658 billion…”
https://www.cnbc.com/2023/09/21/bank-of-england-ends-run-of-14-straight-interest-rate-hikes.html