Bank of England Interest Rate Decision September 2024 - My Take

The Bank of England now has inflation a shade above its 2% target but its policy remains very restrictive with Bank Rate at 5%. The consensus is that the rate will not be changed at this Monetary Policy Committee (MPC) meeting. So will the Bank of England do as markets expect or cut again? Hear our summary of what the MPC says and does and what it means for investors and homeowners in the UK.
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[@rezwhap]

Just waiting for PensionCraft to drop “Hit Me With Your Policy Stick” on streaming platforms now... 🎵

[@Pooter-it4yg]

It was a very predictable "as you were". There's been some ramping and scraping of course - there always is.
The upcoming Budget is the subject of varying speculation with varying motivations and varying questionable attributions, and undoubtedly quite a lot of kite flying. In its regulatory capacity, the BOE couldn't possibly be seen to be fiddling with the pitch at this point. It will be different after Reeves finally stands up and opens her gob, but until then there's an obvious Hippocratic motivation for this decision to be a non decision. Purdah of sorts. If you didn't see this nothing coming, I think you're discounting the interface between politics and economics.

[@agentsmith2798]

Well if government are giving out double digit Public Sector pay rises across the board, of course this will reignite inflation and interest rates will be kept high.

[@seanbrown875]

Trading 212 increased interest rate from 5 to 5.1%. Any idea why?

[@Noobdude534]

Going into holiday sales. It would be interesting to see the power of the consumer.

[@john29john64]

Rate unchanged, could have said that in lieu of the 30 sec countdown

[@vierte_]

The timer is for streaming - some things only are available to prepare and check once you start streaming. Plus you like to give time for regular viewers to start watching before immediately starting. I thought it was good to have the 30s countdown - easily skipped ahead to

[@anthonyferris8912]

Gradual until it becomes rapid.

[@tels7]

Great knowledge and insight from you as always Ramin & co. Keep up the good work :)

[@alexm7310]

None of you will remember unless you're as old as me 😅