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Market Analysis: The Bank of England May Hold Steady Amid Budget Uncertainty

Gold Ten Data, November 6 — London Capital Group analyst Matt Basi stated in a report that the Bank of England is expected to keep the benchmark interest rate unchanged at 4.0% in the upcoming monetary policy decision. The reason for this is that the central bank is awaiting details of the fiscal plans in the UK budget scheduled for November 26. Basi pointed out that the potential new policy measures in the budget introduce uncertainty, leading some businesses and households to delay their financial plans, which has suppressed economic activity. He believes the Bank of England may wait until after the budget is announced before considering voting in favor of further rate cuts.

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