Bank of England holds UK interest rate at 5%
Interest rates are “now gradually on the path down”, the Bank of England governor reportedly said after borrowing costs were held at 5%.
He later reportedly remarked that inflation had “come down a long way” but warned the Bank would need to see more evidence that it will remain low before cutting rates further.
Bank of Japan holds rate steady at around 0.25%
The Bank of Japan has maintained its benchmark interest rate at approximately 0.25%, marking the highest rate since 2008, following a two-day meeting.
The People’s Bank of China (PBOC) holds rates at 3.35%
The People’s Bank of China (PBOC) unexpectedly held the one-year loan prime rate (LPR) at 3.35%, as well as the five-year LPR at 3.85%.