Today, the Bank of England opted to keep interest rates steady at 5.25%, marking the sixth consecutive hold following a streak of 14 consecutive increases since December 2021.
This decision, made by the nine-member panel, saw seven members advocating for a hold, while two proposed a rate drop. Inflation, the gauge of price rise, has exhibited a gradual decline at 3.20% for the year ending in March.
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The Bank of England have voted 6-3 to hold interest rates at 5.25% for a second month in a row. This marks a contrast to the 5-4 vote back in September, where the central bank was narrowly in favour of keeping rates unchanged.
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After 14 consecutive base rate rises, the Bank of England have left interest rates unchanged at 5.25% for the first time since November 2021.
The decision by the Bank of England to leave interest rates unchanged represents a significant development in the country’s monetary policy. In this article, we provide our analysis of the situation
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