BOE delays MPC meeting by one week due to royal mourning

THE Bank of England (BOE) said on Friday (Sep 9) that it will delay its September Monetary Policy Committee (MPC) meeting by one week due to the death of Queen Elizabeth II.

Sterling fell slightly against the US dollar as the BOE said it was rescheduling its next announcement on interest rates and other decisions until Sep 22 from an original date of Sep 15.

“In light of the period of national mourning now being observed in the United Kingdom, the September 2022 meeting of the Monetary Policy Committee has been postponed for a period of 1 week,” the BOE said in a statement.

“The Committee’s decision will be announced at 12 noon on Sep 22.”

Economists have said they mostly expect the BOE to raise interest rates by another 50 basis points, although some in financial markets expect an even bigger hike of 75 basis points. REUTERS