ICAEW sees slow path to further BoE rate cuts

The Institute of Chartered Accountants in England and Wales (ICAEW) has said the Bank of England’s (BoE) decision to hold rates at 3.75% points to a slow route to lower borrowing costs, despite a more dovish inflation outlook. The central bank kept the rate unchanged after inflation rose to 3.4% in December. The Monetary Policy Committee backed the decision by a 5–4 margin. Four members supported a 0.25 percentage-point reduction, which would have taken the rate to 3.5%. The decision comes after the B ...