The Bank of England left its benchmark rate unchanged at a 15-year high for the third straight time and retained its hawkish bias in contrast to the stance of its peer U.S. Federal Reserve that hinted at three rate cuts next year.
The Monetary Policy Committee, led by Governor Andrew Bailey, voted 6-3 to maintain the bank rate at 5.25 percent at the final meeting of the year.
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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.