The Bank of England has voted to go away rates of interest on maintain at 4%, however a knife-edge cut up on its Monetary Policy Committee suggests a reduce could also be coming very quickly.
The 9 members of the Bank’s MPC voted 5-4 in favour of leaving borrowing prices unchanged, within the face of higher-than-usual inflation in current months.
The governor, Andrew Bailey, mentioned: "We held interest rates at 4% today. We still think rates are on a gradual path downwards, but we need to be sure that inflation is on track to return to our 2% target before we cut them again."
Read extra: https://news.sky.com/story/interest-rates-held-after-knife-edge-vote-13464939
#interestrates #cash #economic system #bankofengland
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