Bank of England holds interest rates steady after large Fed rate cut

The move by the US regulator raised bets on further policy easing at the ECB in October but this is still not the most likely outcome given different economic realities

The Bank of England held interest rates at 5% on Thursday.

The Bank of England held interest rates at 5% on Thursday and voted to run down its stock of British government bonds by another £100bn over the coming 12 months, weighing on the government's finances.

On Wednesday, the US Federal Reserve cut interest rates by 0.5 percentage points — a larger-than-expected move that reflected the Fed's confidence inflation pressures were cooling.