Reported 8 months ago
On June 20, 2024, the Bank of England (BOE) announced its interest rate decision, keeping the base rate unchanged at the high point of 5.25%. Despite May inflation data showing a dip back to the BOE's 2% target, the central bank continues to monitor to ensure stability. Though UK Prime Minister Sunak boasts of reducing consumer price inflation from 11.1% to 2%, critics still blame his Conservative government for high prices. The Bank of England's decision could potentially impact Sunak's election prospects, as polls indicate a substantial lead for the Labour Party, suggesting a historic defeat for the Conservatives.
Source: YAHOO