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Bank of England maintains interest rates at 5.25% amidst economic slowdown

1 min read
Source: The Guardian
Bank of England maintains interest rates at 5.25% amidst economic slowdown
Photo: The Guardian
TL;DR

The Bank of England has decided to keep interest rates unchanged at 5.25%, the highest level since 2008, as the UK economy slows. The bank believes that previous rate rises will be sufficient to bring inflation back to the government's 2% target. However, financial markets are predicting five interest rate cuts by the Bank of England next year, while the US Federal Reserve has signaled it will cut rates three times in 2023.

Topics:businesseconomy#bank-of-england#economy#inflation#interest-rates#monetary-policy-committee#uk-economy
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  1. Bank of England holds interest rates at 5.25% as economy slows  The Guardian
  2. Bank of England keeps interest rate unchanged at 5.25% as expected  FXStreet
  3. Bank of England leaves policy unchanged, says rates to stay high for 'extended period'  CNBC
  4. BOE Holds Interest Rates, Warns 'Way to Go' in Inflation Fight  Bloomberg

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