The Bank of England is likely to keep interest rates steady at 4%, breaking the trend of rate cuts in recent meetings. Uncertainty looms, with a potential December cut as UK inflation remains high and the budget approaches. The US Federal Reserve cut rates again, contrasting with the BOE’s pause.

The UK faces economic uncertainty as traders anticipate a December rate cut following weaker-than-expected data. Governor Andrew Bailey warns of uncertainty in timing, especially with Chancellor Rachel Reeves’ budget looming. Reeves faces criticism for past tax increases, potentially impacting households and the economy further.

Global central banks, from Australia to Brazil, are expected to maintain rates, while Mexico may cut. Investors watch for US-China trade developments post-Trump summit. Fed Chair Powell cautions against assuming a December rate cut. Private sector reports provide insight into the job market health.

Canada anticipates Prime Minister Carney’s budget, expected to cut spending while boosting capital projects. Deficit projections are high, with a focus on corporate tax changes and tech talent immigration. Bank of Canada Governor Macklem participates in a fireside chat before October’s job data release, reflecting continued softness.

Asia’s manufacturing activity data from China to Japan reveal the impact of global trade tensions. Southeast Asian nations report PMIs amid supply chain disruptions. Central banks like RBA are expected to hold rates. Australian home prices rise, complicating inflation concerns. South Korea and New Zealand report key economic data.

Europe, Middle East, Africa see central banks like Sweden’s Riksbank and Poland’s expected to hold rates. Norway and Czech Republic also likely to maintain rates. ECB officials provide insight, while euro zone data shows manufacturing strength. Swiss inflation, Turkish data, and policy decisions in Madagascar and Uganda are on the horizon.

Latin America’s focus is on Brazil’s central bank meeting, with expectations of a hold at 15%. Argentina’s data reflects post-election trends, while Chile gears up for presidential elections. Banxico likely to cut rates, as Colombia releases monetary policy report. Economic data across the region highlight inflation, GDP, and trade trends.

Read more at Yahoo Finance: BOE Set to Hold Rates as UK Budget Looms Over Decision