'A tough call': Bank of England dovish move signals 'higher for longer' rates policy

For the first time in almost two years, the BoE opted to leave borrowing costs at 5.25% today (21 September), while warning that rates will remain high to tackle inflation. The committee's decision was a close call, with five voting to pause, while four voted in favour of a 25bps hike.  "Enough voters were either satisfied that inflation will not prove to be overly sticky or were concerned enough about downside risks to believe that a pause was warranted despite still high levels of inflation," said Oliver Blackbourn, portfolio manager at Janus Henderson. Investors had widely predicte...