The central banks for the U.K. and European Union mirrored the example of their American counterparts and kept their respective interest rates unchanged.
The Bank of England maintained its 5.25% rate, which is a 15-year high. Andrew Bailey, governor of the Bank of England, said in a statement, “We’ve come a long way this year. But we still have some way to go.”
Over on the continent, the European Central Bank held its rate at 4%, also a record high. Christine Lagarde, the bank’s president, told reporters there were no plans to pivot to a rate-cutting regimen.
“We did not discuss rate cuts at all,” she said. “No discussion. No debate. Between hike and cut there is a whole plateau.”
Yesterday, the Federal Reserve opted to keep rates in the range of 5.25% to 5.5%. Last week, the Bank of Canada left its benchmark interest rate at a 22-year high of 5% — but unlike the other central banks, the Canadians raised the possibility of another hike.
