If the Bank of England’s decision on Thursday to leave interest rates unchanged is a guide, the outlook for the start date for a US rate cut may be further down the line than generally assumed. There are many differences between the UK and US economy and so sizing up BoE policy decisions with the Federal Reserve is an apples and oranges comparison on several fronts. Yet it’s hard to overlook the fact that the Old Lady of Threadneedle Street left its target rate unchanged, at 5.25% on Thursday (June 20), despite a return of UK inflation to the central bank’s 2% target in May, reported the day before. It’s also ... (full story)