BoE keeps main UK interest rate unchanged at 15-year high of 5.25%
Most economists expect a sizable decline over coming months as domestic energy bills fall
 "Bank of England, BoE")
A pedestrian shelters under a Union Flag umbrella in front of the Bank of England, in London. Photo: Reuters
Listen to This Article
The Bank of England has kept its main interest rate unchanged at the 15-year high of 5.25 per cent, as inflation across the UK is expected to fall further over the coming months.
In a statement on Thursday, the bank's nine-member Monetary Policy Committee indicated that inflation, as measured by the consumer price index, is set to fall toward a 2 per cent target rate over the coming year. In the year to September, inflation stood at 6.7 per cent.
Most economists expect a sizable decline over coming months as domestic energy bills fall.
The bank in September ended a nearly two-year run of interest rate rises.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
More From This Section
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Nov 02 2023 | 6:05 PM IST