18-July-2024
Economy News
 
BoE keeps key interest rate at 16-year high of 5.25% despite inflation fall
21-Jun-2024

The Bank of England on Thursday kept its main interest rate at a 16-year high of 5.25 per cent, even though inflation has fallen to its target of 2 per cent. In a statement, some policymakers on the bank's nine-member Monetary Policy Committee voiced worries that some underlying measures of inflation, such as in the services sector, remain elevated, which could be stoked further if interest rates are cut too soon.

News Source:- https://www.business-standard.com/industry/banking/boe-keeps-key-interest-rate-at-16-year-high-of-5-25-despite-inflation-fall-124062000686_1.html