K Monetary Policy News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Bank of England left its benchmark interest rate unchanged for the second straight meeting on Thursday as economic activity in the UK is projected to be weaker than previously estimated and the labor market showed signs of loosening, and the bank vowed to keep the policy restrictive for sufficiently long to bring inflation back to the target sustainably.

The UK wage growth slowed in the three months to August, signaling cooling labor market conditions and strengthened expectations that the Bank of England is unlikely to raise interest rates again to withstand wage-driven inflationary pressures.