Forbes on Nostr: Interest Rates & Inflation: Bank Holds Cost Of Borrowing At 5.25% For Sixth Time ...
Interest Rates & Inflation: Bank Holds Cost Of Borrowing At 5.25% For Sixth Time
==========
The Bank of England has kept borrowing costs at a 16-year high of 5.25% for the sixth time since August last year. The Bank's Monetary Policy Committee voted by 7 votes to 2 to maintain the Bank Rate at its present level. The Bank of England, along with the US Federal Reserve and the European Central Bank, is required to keep inflation at 2% over the medium to long-term. The UK's inflation rate has fallen from 11.1% in October 2022 to 3.2% in March 2024. The Bank officials will be hoping for a further reduction in the headline figure, potentially paving the way for them to reduce borrowing costs as early as June.
#BankOfEngland #InterestRates #Inflation #BorrowingCosts
https://www.forbes.com/uk/advisor/personal-finance/2024/05/09/inflation-rate-update/
==========
The Bank of England has kept borrowing costs at a 16-year high of 5.25% for the sixth time since August last year. The Bank's Monetary Policy Committee voted by 7 votes to 2 to maintain the Bank Rate at its present level. The Bank of England, along with the US Federal Reserve and the European Central Bank, is required to keep inflation at 2% over the medium to long-term. The UK's inflation rate has fallen from 11.1% in October 2022 to 3.2% in March 2024. The Bank officials will be hoping for a further reduction in the headline figure, potentially paving the way for them to reduce borrowing costs as early as June.
#BankOfEngland #InterestRates #Inflation #BorrowingCosts
https://www.forbes.com/uk/advisor/personal-finance/2024/05/09/inflation-rate-update/