Just now, the UK cut interest rates!

Central banks in various countries have successively announced the results of their interest rate decisions during the Central Bank Super Week. Yesterday, Japan announced an interest rate hike, and today the UK announced an interest rate cut. The United States chose to stay put and emphasized that it might cut interest rates in September.

On August 1, the Bank of England cut interest rates by 25 basis points to 5%, in line with market expectations, the first interest rate cut since March 2020. Since August 2023, the Bank of England has kept interest rates at a historical high of 5.25%.

The Fed expects a rate cut in September

Last night, the Federal Reserve ended its two-day monetary policy meeting and announced that it would maintain the target range of the federal funds rate at 5.25% to 5.5%.

The Fed also said that if the fight against inflation continues to make the desired progress, the Fed may announce a rate cut at its meeting in September this year. Because inflation has fallen less quickly than expected, the Fed has maintained its interest rate target range between 5.25% and 5.5% since the end of July last year, the highest level in 23 years.

The Federal Open Market Committee, the decision-making body of the Federal Reserve, said in a statement issued after the meeting that day that inflation has eased over the past year, but it is still at a relatively high level.

In recent months, "some further progress" has been made in achieving the 2% inflation target. In the statement of the June meeting, the Fed's wording was "modest further progress" in fighting inflation.

Federal Reserve Chairman Powell held a press conference on the federal funds rate policy released by the Federal Reserve that day.

He said that the second quarter inflation data increased the Fed's confidence and made "some further progress" in achieving the 2% inflation target. If the inflation test is met, the Fed may cut interest rates as early as September, and emphasized that all decisions of the Federal Reserve are "absolutely" non-political and have nothing to do with the upcoming presidential election. Powell also hinted in his answer to questions that a 50 basis point rate cut is unlikely. #美联储何时降息？ $ETH $BTC