Giving its verdict on last week's budget as it announced a quarter-point cut in interest rates to 4.75%, the central bank said the chancellor's plans would drive up inflation to a fresh peak next year.
The monetary policy committee (MPC) voted by a majority of eight to one to reduce rates for the second time this year to ease the pressure on households and businesses from high borrowing costs.
However, it said Reeves's £70bn of additional spending backed by higher taxes and borrowing would add about 0.5 percentage points to headline inflation by the middle of next year and 0.75% to gross domestic product.
Updating its forecasts after taking budget measures into account, the Bank said that it expected inflation to now peak at 2.75% by the middle of next year and then remain above the 2% target in 2026, until falling back in 2027-a year longer than it had expected in its previous forecasts, published in August.
Diese Geschichte stammt aus der November 08, 2024-Ausgabe von The Guardian.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der November 08, 2024-Ausgabe von The Guardian.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
Amorim rewarded for keeping faith with his eternal optimist
This was a thrilling, bruising game, and even a very funny one at times.
Amorim's winter warmer
United manager hails side's mentality in thrilling draw
Referee 'not at Premier League level', says Silva
A frustrated Marco Silva, the Fulham manager, described the performance of Darren Bond, the referee, as \"not at Premier League level\" after he opted not to dismiss the Ipswich defender Leif Davis during the sides' 2-2 draw.
Diallo grabs vital point as United step up at Anfield
An evening of some redemption for Manchester United was not without its customary slice of Anfield agony. Thirty seconds remained of a gripping battle when Joshua Zirkzee spurned the chance of hero status among fans who jeered him six days earlier to present Harry Maguire with a clear sight of Alisson's goal.
Fulham toil against strugglers again as Jiménez rescues point
Imagine where Fulham would be if they could see off the strugglers. They averted a rare defeat when Raúl Jiménez converted his second penalty of the afternoon at the start of added time but never did enough to overcome a well-drilled Ipswich.
Isidor proves worth to keep nervy Black Cats in the leading pack
Before kick-off Portsmouth's manager, John Mousinho, suggested all the pressure would be on Sunderland, leaving his players free to relax, improvise and unlock their inner creativity.
Australia make hay in Bumrah's absence to clinch series win
Boland skittles India to set up World Test Championship final against South Africa
Gauff turns tables on Swiatek before Fritz seals trophy for US
Americans defeat Poland to secure United Cup glory as Sabalenka wins Brisbane title
Rybakina speaks out in defence of suspended coach Vukov
Elena Rybakina, the 2022 Wimbledon champion, has insisted that her former coach Stefano Vukov did not mistreat her during their coaching partnership after it was revealed that Vukov is under investigation by the Women's Tennis Association.
Rangers drop points on road again despite Igamane treble
Hamza Igamane's hat-trick was not enough to secure victory for Rangers as Rocky Bushiri's late header earned a dramatic 3-3 draw for in-form Hibernian at Easter Road.
