Stay informed with free updates
Simply sign up to the UK interest rates myFT Digest — delivered directly to your inbox.
The Bank of England has kept interest rates on hold at 5.25 per cent, denting Conservative hopes of a boost to personal finances just two weeks before the UK’s July 4 election.
Thursday’s seven to two decision by the Monetary Policy Committee, which was in line with economists’ expectations, leaves rates at a 16-year high.
It came despite data the day before showing that headline inflation has fallen to the BoE’s target of 2 per cent for the first time in three years. However, service inflation was higher than expected at 5.7 per cent.
This is a developing story
Credit: Source link
