The Bank of England kept rates at a 16-year high of 5.25%, as expected but gave little guidance of when they might begin to fall. The BoE’s rate-setting Monetary Policy Committee is concerned that there is still enough inflation in the economy, currently at 4%, to prevent rising prices from being pushed down to
The Bank of England has held the base rate at 5.25% today, the fourth consecutive time it has opted to keep rates unchanged. Today's decision came with a batch of forecast revisions, all of which made for positive reading. Inflation is expected to fall to 2% in 2024, before picking up slightly to 2.3% in 2026.
The Bank of England (BoE) has increased the base rate by 25 basis points to 4.25%. The Monetary Policy Committee (MPC) voted for this change by a majority of 7-2, with the minority vote wishing to keep the rate at 4%. This follows the BoE upping the base rate by 50 basis points to 4% in early February this year. Just