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Hold the line
- At this week’s US Fed and Bank of England meetings, both held rates steady, in stark contrast to the hike delivered by the ECB last week.
- For the Fed, it held rates at 3.5–3.75%.
- Overall, nine members of the FOMC are pencilling in rate hikes this year, eight think policy will be left unchanged this year, while just one expects a cut.
- For the Bank of England, the June policy meeting of the Monetary Policy Committee saw the central bank leave Bank Rate unchanged at 3.75%.
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