In a close call, the Bank of England kept its benchmark rate unchanged unexpectedly for the first time since November 2021 as inflation eased to an 18-month low, while the economy is moving closer to a mild recession.
The BoE Monetary Policy Committee, headed by Governor Andrew Bailey, voted by a narrow margin of 5-4 to maintain the bank rate at 5.25 percent. Markets had widely expected a quarter-point hike.
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.