The Bank of England could cut interest rates before the Fed — here's why
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The Bank of England and the Federal Reserve may have different approaches to interest rate cuts due to differences in inflation, policy transmission, and consumer behavior. US inflation has been driven by an increase in the amount of money in circulation, while UK inflation has been consistently dropping. The policy impact of interest rate changes would be felt more sharply in London than in New York due to the difference in mortgage terms. US consumers have seen rising credit card and consumer loan delinquencies, while UK consumers have been more pragmatic. The two central banks are cautious about getting inflation wrong again. The Bank of England may cut interest rates before the Federal Reserve.

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https://www.standard.co.uk/business/bank-of-england-federal-reserve-interest-rates-mortgage-prices-inflation-economy-employment-borrowing-b1152284.html