1349 GMT - The Bank of England's statement and minutes accompanying the decision to cut its benchmark rate to 3.75% suggest it won't be rushing ahead with rate cuts in 2026, says Jessica Hinds, director in Fitch Ratings' Economics team. While a rate cut had seemed a foregone conclusion after the labor-market and inflation data earlier this week, the vote was still a tight one. As expected, Gov. Andrew Bailey provided the decisive vote in favor of a cut, Hinds says in a note. "Looking ahead, we still think that the disinflation trend and deteriorating labor market will prompt the monetary-policy committee to cut all the way to 3%." However, it will take the best part of next year to get there, she says. (edward.frankl@wsj.com)
(END) Dow Jones Newswires
December 18, 2025 08:49 ET (13:49 GMT)
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