Reported about 19 hours ago
The Bank of England held interest rates steady at 4.25% as it expressed concerns about a weakening labor market and rising energy prices due to escalating conflicts in the Middle East. The Monetary Policy Committee's decision, voted 6-3, highlighted the highest unemployment rate since 2021 and slowing wage growth. While inflation forecasts remained largely unchanged, the central bank warned of potential future rate cuts if energy prices continue to rise.
Source: YAHOO