Bank of England Rate Decision Expected in December

The Bank of England's Deputy Governor Dave Ramsden has indicated he may support quicker interest rate cuts if economic uncertainty diminishes, despite an October inflation rise exceeding the BOE's 2% target. Concurrently, a Reuters poll suggests the BOE is expected to maintain its current rate in December, with economists divided on the potential impact of President-elect Donald Trump's proposed tariffs on the UK economy. While nearly 90% of economists believe these tariffs will be enacted early next year, opinions vary on their significance, with many asserting they could hinder global growth and fuel inflationary pressures. In Canada, inflation also increased, yet economists predict the Bank of Canada will continue its rate reduction strategy, likely cutting rates by 50 basis points in December. The European Central Bank is similarly preparing for potential impacts from U.S. tariffs, with indications that it will continue its series of rate cuts initiated earlier this year. Overall, central banks in both the UK and Canada appear inclined to adjust monetary policy cautiously amid rising inflation concerns and external economic pressures.