Bank of England keeps interest rates at 3.75% as inflation concerns persist
by Heather Stewart Economics editor from on (#73D6K)
Bank indicates anti-inflation measures in Rachel Reeves's budget likely to pave way for rate cuts in months ahead
Bank of England policymakers have left interest rates unchanged at 3.75%, but indicated that lower inflation as a result of cost-of-living measures in Rachel Reeves's budget should pave the way for cuts in the months ahead.
The nine-member monetary policy committee (MPC) voted to leave borrowing costs on hold, despite forecasting weaker growth and lower inflation than at its last quarterly forecast in November.
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