London: The Bank of England (BoE) left interest rates unchanged at 4 percent, as expected, after cutting them by 25 basis points last August.
According to Qatar News Agency, the BoE announced it would slow the pace of its quantitative easing program and avoid selling long-term government bonds to minimize the impact on volatile markets. The central bank maintained its forecast that inflation would peak at 4% this month and gradually decline to its 2% target by the second quarter of 2027.
Additionally, the bank slightly increased its growth forecast for the third quarter to 0.4 percent, up from a previous estimate of 0.3 percent.