BoE delays MPC meeting by a week due to royal mourning
The Bank of England on Friday postponed an interest rate decision to next week following the death of Queen Elizabeth, the first delay in a monetary policy meeting since the central bank became operationally independent 25 years ago.
Sterling fell slightly against the dollar as the BoE said it was rescheduling its next announcement on interest rates and other decisions from the original date of September 15 to September 22.
“In light of the period of national mourning now in the United Kingdom, the September 2022 meeting of the Monetary Policy Committee has been postponed for a period of one week,” the BoE said in a statement.
“The decision of the committee will be announced on September 22 at 12 noon.”
Economists have said they mostly expect the BoE to raise interest rates by 50 basis points, although some financial markets expect an even bigger hike of 75 basis points.