Reported about 9 hours ago
The Bank of England decided to keep its key interest rate at 4%, despite a close vote among policymakers, as they seek more clarity on inflation trends before considering a rate cut. With consumer price inflation at 3.8%, nearly double the bank's target, the committee noted inflation may have peaked at a lower level than expected. Economists suggest a potential cut could occur in December, depending on forthcoming economic data and the government's upcoming budget, which may impose tax increases to address public finances.
Source: YAHOO