The Bank of England decided to hold its key interest rate and to reduce the stock of government bond purchases by GBP 70 billion over the coming twelve months.The Monetary Policy Committee, governed by Andrew Bailey, voted 7-2 to leave the bank rate unchanged at 4.00 percent.The bank had lowered the rate five times since August 2024 and took it to the lowest since early 2023.Swati Dhingra and Alan...
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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.