Bank of England Holds Rates Amid Inflation Concerns
The Bank of England maintained its main interest rate at 4% due to inflation concerns, with seven of nine committee members supporting this decision. Despite expectations for inflation to return to 2%, the path remains uncertain. Economists are divided over future rate cuts as inflation persists.
- Country:
- United Kingdom
The Bank of England maintained its primary interest rate at 4% on Thursday, reflecting ongoing concerns over inflation among policymakers.
This move was anticipated, with a majority of the Monetary Policy Committee supporting the decision, while two members preferred a reduction to 3.75%.
The bank's cautious approach follows persistent inflation and signals potential gradual rate cuts in the future.
(With inputs from agencies.)
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