The Bank of England refrained from cutting rates but indicated a potential future decrease. While the Federal Reserve made a significant rate cut, the British central bank plans to proceed cautiously. Most policymakers opted to maintain rates at 5 percent, with one member advocating for a slight reduction. Inflation has slowed in the UK, prompting considerations for gradual rate cuts. Despite some concerns about high inflation components, policymakers anticipate a modest rise in inflation followed by a return to the central bank's 2 percent target by early 2026. The global trend of gradual rate reductions is also observed, with the European Central Bank and the Fed implementing similar strategies. The British economy faces challenges, with minimal growth predicted for the third quarter. The government plans to address various economic issues but is constrained by high debt levels and anticipates making tough decisions in the upcoming budget.