empty
 
 

2024.03.2113:05:00UTC+00Amended: Bank Of England Maintains Key Rate As Expected

Corrects the first paragraph

The Bank of England left its benchmark interest rate unchanged at a sixteen-year high for the fifth straight session on Thursday.

The Monetary Policy Committee, led by Governor Andrew Bailey, voted 8-1 to keep the bank rate unchanged at 5.25 percent. The rate was the highest since early 2008.

Swati Dhingra sought a quarter point reduction to 5.00 percent. Dhingra assessed that waiting for more reassurance before reducing Bank Rate would weigh further on living standards and supply capacity.

The policymakers said the MPC remained prepared to adjust monetary policy as warranted by economic data to return inflation to the 2 percent target sustainably. ".the Committee would keep under review for how long Bank Rate should be maintained at its current level," the bank said.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In June we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback