Bank of England keeps interest rates unchanged, balance sheet reduction "hits the brakes" more forcefully than expected

Zhito Finance APP has learned that the Bank of England announced on Thursday that it will keep its benchmark interest rate unchanged at 3.75%, in line with widespread market expectations. The Bank of England warned that if the Middle East conflict intensifies inflationary pressures, it may need to raise interest rates. The Bank of England abandoned its plan to sell long-term UK government bonds and said it will gradually reduce its 488 billion pounds ($653 billion) debt portfolio by September 2034.