From Forbes: 2024-06-12 18:12:33

On 12 June, the US Federal Reserve maintained interest rates at a 23-year high of 5.25% to 5.5%. Inflation fell slightly to 3.3% in May, with hopes of a rate cut later this year. The Bank of England will announce its rate on 20 June.

Eurozone headline rate dropped from 4.5% to 4.25% on 6 June, marking the first rate cut since 2019. The ECB cited improved inflation outlook for the reduction. Despite rising eurozone inflation, the ECB cut rates in line with other central banks worldwide.

April saw UK inflation drop to 2.3%, close to the Bank of England’s 2% target. Falling gas and electricity prices contributed to the decline. Hopes for a Bank of England rate cut in June are high, with the next Bank Rate meeting scheduled in August.



Read more at Forbes: Fed Holds Rates In Wake Of Disappointing US Prices Data – Forbes Advisor UK