Bank of England

Bank of England holds interest rate at 5.25%

UK interest rates have been held at 5.25%. This is the third time in a row the Bank of England has opted to hold rates the same.

The decision, which was widely expected by financial markets, means borrowing costs will remain at their highest level for 15 years.

the Bank of England’s Monetary Policy Committee (MPC) voted 6-3 to keep rates at a 15-year high.

There was reportedly no discussion of cutting interest rates, and it’s still concerned that price rises might be stickier in the UK economy than in the U.S. or Eurozone.

The U.S. yesterday, 13th December 2023 indicated that 2024 could see three interest rate cuts. No such indication was forthcoming from the UK.

UK, U.S. and EU interest rates

UK, U.S. and EU interest rates

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