Reported 8 months ago
The Bank of England has decided to keep interest rates at 5.25%, the highest level in 16 years, ahead of the election, despite inflation hitting its 2% target. This marks the seventh consecutive meeting that the MPC has opted to maintain rates, with concerns about price rises in the services sector. Analysts predict a rate cut in August once the election results are clear, with expectations of two cuts by the end of the year and a reduction to 3% next year due to falling inflation.
Source: YAHOO