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The British regulator's website states that the Bank of England maintained the basic interest rate at 5.25% annually. Two members of the Bank of England's monetary policy committee insisted on raising the rate to 5.5%, while one member insisted on decreasing it to 5%. Six members of the committee supported leaving the rate as it is.
According to The Guardian, the Bank of England's decision aligned with the predictions of analysts. The newspaper points out that the rate has been at its highest point for the previous 16 years.
A statement from the regulator reads that the Monetary Policy Committee aims to sustain employment, economic growth, and the 2% inflation target. According to the Bank of England's prediction, inflation will climb in the third and fourth quarters of 2024 before momentarily returning to the target rate of 2% at the end of the year.
source: theguardian.co.uk
According to The Guardian, the Bank of England's decision aligned with the predictions of analysts. The newspaper points out that the rate has been at its highest point for the previous 16 years.
A statement from the regulator reads that the Monetary Policy Committee aims to sustain employment, economic growth, and the 2% inflation target. According to the Bank of England's prediction, inflation will climb in the third and fourth quarters of 2024 before momentarily returning to the target rate of 2% at the end of the year.
source: theguardian.co.uk
