(Zero Hedge)—The Bank of England kept its key interest rate at 4.0% this morning, opting against a cut (as the market expected) ahead of the UK government’s annual budget this month (which is expected to feature tax hikes).
“We still think rates are on a gradual path downwards, but we need to be sure that inflation is on track to return to our two-percent target before we cut them again,” BoE governor Andrew Bailey said in a statement following the widely-expected decision.
The decision was very tight as policymakers including Bailey voted 5-4 to maintain the rate.
Four members of the Monetary Policy Committee (MPC) called for a cut to 3.75 percent.
The BoE last cut its key rate in August amid concerns over the impact of US tariffs on the UK economy.
Importantly, the minutes of the meeting noted that “overall the risks [to the inflation outlook] are now more balanced” but that more evidence is needed. The last reference essentially conditions the next interest cut to further progress in the data.
As regards the forward guidance, the MPC left the overall message broadly unchanged but did change the wording by removing “careful” and now saying that “[i]f progress on disinflation continues, Bank Rate is likely to continue on a gradual downward path.”
Interestingly, while the BoE’s guidance is dovish, its forecasts continue to have an inflation overshoot for the whole of next year and into 2027 – CPI is seen at 2.5% in Q4 2026 and 2.0% in Q4 2027 2.0%, based on market rates.
The BoE’s December meeting is definitely in play based on Governor Bailey’s comment:
“The downside scenario seems more likely. It could help explain the elevated saving rate, and Agents’ intelligence on uncertainty. Rather than cutting Bank Rate now, I would prefer to wait and see if the durability in disinflation is confirmed in upcoming economic developments this year. Current market pricing is close to the path suggested by a forward-looking Taylor rule, which is a fair description of my position at present”.
OIS pricing for the December meeting has moved to around 16.5bp, from around 11bp priced before the decision (or a 66% chance of a cut.
Cable strengthened on the ‘hold’…
Finallym, during his press conference, Bailey also weighed in on the frothy valuations in stock markets, led by US tech stocks and the AI megatrend, saying that “we could have an AI bubble” and that is being watched closely for any implications on financial stability.
Preparing for the Unexpected: Your Essential Partner in Health Readiness
In an increasingly unpredictable world—where supply chain disruptions, natural disasters, and global travel can leave us vulnerable to sudden health challenges—being prepared isn’t just smart; it’s essential.
That’s where Jase Medical steps in, offering innovative solutions that empower individuals and families to take control of their health with emergency medication kits designed for real-life scenarios. As someone who’s always advocated for proactive wellness, I was impressed by how Jase Medical combines expert medical guidance with convenient, customizable options to ensure you’re never caught off guard.
At the heart of their offerings is the Jase Case, a comprehensive emergency antibiotic kit priced at just $289.95. This powerhouse contains five life-saving antibiotics and five vital symptom-relief medications, capable of treating over 50 common infections—from respiratory issues and skin conditions to traveler’s diarrhea and more.
What sets it apart? It’s fully customizable with 28 add-on options, including a specialized KidCase for children ages 2-11, making it ideal for families.
Whether you’re stocking up for home emergencies or preparing for remote adventures, the Jase Case provides peace of mind with medications that boast extended shelf lives—up to five years or longer when stored properly, with studies showing 90% potency retention even after 20 years.
For those on the move, the Jase Go travel med kit at $129.95 is a game-changer. Curated by physicians, it addresses over 30 common travel ailments, from digestive upsets to minor injuries, ensuring explorers, hikers, and globetrotters can handle health hiccups without derailing their plans.
And for targeted concerns, Jase Medical offers specialized kits like the UTI Kit ($99.95), which includes test strips and treatments for urinary tract infections, vaginal candidiasis, and even jock itch, or the Parasites Kit (starting at $199.95), featuring compounded Ivermectin and Mebendazole to combat internal and external parasitic infections.
But Jase Medical isn’t just about one-off kits; their Jase Daily service provides an extended supply of your ongoing prescriptions, supporting hundreds of medications for chronic conditions like diabetes, heart health, high blood pressure, mental health, and more. This ensures long-term preparedness, safeguarding against factory shutdowns or extreme weather that could interrupt your regular supply.
The process couldn’t be simpler or more reassuring. Start by customizing your order online, then benefit from a thorough review by a team of world-class physicians who ensure safety and accuracy. In most cases, prescriptions are issued after a quick consultation—sometimes just a call to clarify allergies or needs—and your kit arrives discreetly at your door. While they don’t accept traditional health insurance, many customers use HSA cards, and refills are available for added convenience.
What truly stands out is the real-world impact. As radio host Glenn Beck puts it, “The supply lines for antibiotics already are stressed to the max. Please have some antibiotics on hand… You can do it through Jase.”
One satisfied customer shared, “It could have been a nightmare. Instead, the best trip we’ve had,” after their kit turned a potential health crisis into a minor blip during a family vacation.
In a time when health uncertainties loom larger than ever, Jase Medical isn’t just selling products—it’s delivering empowerment. Don’t wait for the next disruption; visit Patriot.TV/meds today to build your personalized emergency plan and step into a more secure tomorrow. Your health, and your family’s, deserves nothing less.