Bank of England keeps interest rates on hold at 5.25%

Seventh consecutive freeze comes despite fall in rate of inflation to 2% target last month

The Bank of England has held interest rates at 5.25%, marking the seventh consecutive time the central bank has left the cost of borrowing unchanged.

Dashing Rishi Sunak’s hopes of a pre-election cut in the cost of borrowing, a majority of the Bank’s monetary policy committee (MPC) said they wanted to see further evidence that prices growth would remain subdued.

Continue reading…Seventh consecutive freeze comes despite fall in rate of inflation to 2% target last monthBusiness live – latest updatesThe Bank of England has held interest rates at 5.25%, marking the seventh consecutive time the central bank has left the cost of borrowing unchanged.Dashing Rishi Sunak’s hopes of a pre-election cut in the cost of borrowing, a majority of the Bank’s monetary policy committee (MPC) said they wanted to see further evidence that prices growth would remain subdued. Continue reading…