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BoE joins those on hold. Who will break first?
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Friday 22nd September 2023
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The Bank of England has kept rates on hold for now. Many other central banks have met over the last 24 hours – some have been on hold, some continue to raise rates, one has even cut rates. But bond yields continue to rise and equity markets have taken a hit. JBWere’s Sally Auld says it’s a sign that investors aren’t convinced that the tightening cycle is over just yet. US continues to display resilience that could suggest the Fed will do more. Even New Zealand, where the RBNZ has pushed rates have gone further than many, GDP has shown a strong comeback. So, the future is still uncertain. The Bank of Japan is next to meet. It’s safe to assume they’ll be on hold but, again, for how much longer?
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