UK interest rates have been left unchanged at 5.25% by the Bank of England (BoE)
The Bank has maintained the interest rates at 5.25% for the seventh consecutive time to combat inflation, resulting in increased mortgage repayments and higher savings rates.
The interest rates, at their peak for the past 16 years, have been sustained at 5.25%. Currently, there are indications of a shift in stance, with a growing consensus for a potential reduction in August 2024.
UK interest rate and inflation chart June 2021 – June 2024
