Bank of England 攻撃する，衝突するs stop on 率 引き上げ（る） run as economy slows
By William Schomberg, Andy Bruce and Suban Abdulla
LONDON, Sept 21 (Reuters) - The Bank of England 停止（させる）d its long run of 利益／興味 率 増加するs on Thursday as Britain's economy slowed and インフレーション fell, but 知事 Andrew Bailey sought to 強調する／ストレス the central bank did not think its 職業 was done.
A day after Britain's 急速な／放蕩な pace of price growth 突然に slowed, the BoE's 通貨の 政策 委員会 投票（する）d by the narrowest 利ざや of 5-4 to keep Bank 率 at 5.25%.
Four members - Jon Cunliffe, Megan Greene, Jonathan Haskel and Catherine Mann - 投票（する）d to raise 率s to 5.5%.
It was the first time since December 2021 that the BoE did not 増加する borrowing costs.
英貨の／純銀の fell by more than half a cent against the U.S. dollar, to its lowest since late March, and also 弱めるd against the euro as 投資家s downgraded their bets that 利益／興味 率s would be 増加するd その上の.
But 率 未来s 示唆するd they still saw a 50% chance of Bank 率 rising to 5.5% by the end of this year.
Britain's economy, 攻撃する，衝突する hard by Brexit, the COVID-19 pandemic and the 殺到する in gas prices 誘発する／引き起こすd by Russia's 侵略 of ウクライナ共和国, has been struggling with the highest インフレーション 率 in the Group of Seven.
But growth remains 壊れやすい, 高くする，増すing the 危険 that the BoE's 14 支援する-to-支援する 率 引き上げ（る）s will 押し進める the economy into a 後退，不況.
"There are 増加するing 調印するs of some 衝撃 of tighter 通貨の 政策 on the 労働 market and on 勢い in the real economy more 一般に," the MPC said in a 声明.
Bailey said he would not 予報する the BoE's next move, but told 放送者s it would be "very, very premature" to lower の間の est 率s.
The BoE 削減（する） its 予測（する） for 経済成長 in the July-September period to just 0.1% from August's 予測（する） of 0.4% and 公式文書，認めるd （疑いを）晴らす 調印するs of 証拠不十分 in the 住宅 market.
Growth for the 残り／休憩（する） of the year was likely to be 女性 than previous 予測（する）s, the BoE said.
Bailey and his 同僚s have 直面するd 激しい 批評 after 消費者 price インフレーション より勝るd 11% in October last year.
At 6.7% in August, インフレーション is 落ちるing に向かって the 5% level the BoE has 予報するd for the coming months - and which 総理大臣 Rishi Sunak has 約束d to 投票者s ahead of an 選挙 推定する／予想するd next year.
But it remains more than three times the central bank's 2% 的.
In its 声明, the BoE said 記録，記録的な／記録する growth in 労働者s' 支払う／賃金, which has been its biggest 関心, was not 支援するd up by other 対策 of the 労働 market, 示唆するing it 推定する／予想するd 行う growth to slow soon.
The MPC also sounded unfazed by a 最近の climb in oil prices. "消費者物価指数 インフレーション is 推定する／予想するd to 落ちる 意味ありげに その上の in the 近づく 称する，呼ぶ／期間／用語, 反映するing lower 年次の energy インフレーション, にもかかわらず the 新たにするd 上向き 圧力 from oil prices," it said.
Services インフレーション was 推定する／予想するd to remain elevated, however.
"The question now is 堅固に centred on whether this pause will remain or if another 率 rise will be needed in November," フランs Haque, 長，指導者 経済学者 with Santander UK, said. "Only time and その上の 経済的な data will tell."
READY TO RAISE IF NEEDED
On Wednesday the U.S. 連邦の Reserve also 選ぶd to keep borrowing costs on 持つ／拘留する. Last week, the European Central Bank raised 率s but 示唆するd its move might be the last for now.
The MPC 繰り返し言うd its message that it was 用意が出来ている to raise borrowing costs again if needed.
"その上の 強化するing in 通貨の 政策 would be 要求するd if there were 証拠 of more 執拗な inflationary 圧力s," its 声明 said, repeating the 指導／手引 that 通貨の 政策 would be "十分に 制限する for 十分に long" to get インフレーション 支援する to its 2% 的 from 6.7% in August.
Bailey and other MPC members have recently 示唆するd they were の近くに to putting 率s on 持つ／拘留する but they have also 強調する／ストレスd that borrowing costs are likely to remain high to 確実にする インフレーション 圧力s are squeezed out of the economy.
Yael Selfin, 長，指導者 経済学者 at KPMG UK, said a first 削減（する） in 率s could come only from November 2024.
In a separate 声明 on Thursday, Bailey welcomed the 最近の 落ちる in インフレーション and BoE 予測（する）s that it would continue to 緩和する. "But there's no room for complacency," he said. "We need to be sure インフレーション returns to normal and we will continue to take the 決定／判定勝ち（する）s necessary to do just that."
投資家s sensed the BoE was now done with its run of 率 増加するs, however.
"にもかかわらず 成果／努力s in the 声明 to keep the door open to その上の 引き上げ（る）s, many 投資家s will now assume that the Bank of England's 引き上げ（る）ing cycle has 結論するd," Hugh Gimber, 全世界の market strategist at J.P. Morgan 資産 管理／経営, said.
The MPC sped up the pace of its programme to 縮む the 抱擁する 備蓄（する） of 政府 社債s the central bank acquired over nearly 15 years as it sought to steer the economy through the 全世界の 財政上の 危機 and the coronavirus pandemic.
As 推定する／予想するd, the 備蓄（する） will be 減ずるd by 100 billion 続けざまに猛撃するs over the next 12 months - 経由で sales and 許すing 社債s to 円熟した - to a total of 658 billion 続けざまに猛撃するs, the BoE said, faster than the 80 billi on 続けざまに猛撃するs 削減 over the past year.
(令状ing by William Schomberg; Editing by Catherine Evans)
