Reported 2 days ago
The Bank of England has decided to keep interest rates steady at 4.75% despite rising inflation and a stagnant economy, citing 'heightened uncertainty.' The central bank's caution reflects concerns that lowering borrowing costs could further fuel inflation, which has exceeded the target of 2%. Three committee members voted for a rate cut, suggesting potential future reductions could be on the table, especially as the U.K. faces mounting challenges from high costs and stagnant growth.
Source: YAHOO