The Bank of England has voted to leave interest rates on hold at 4%, but a knife-edge split on its Monetary Policy Committee suggests a cut may be coming very soon.
The nine members of the Bank’s MPC voted 5-4 in favour of leaving borrowing costs unchanged, in the face of higher-than-usual inflation in recent months.
The governor, Andrew Bailey, said: "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 more: https://news.sky.com/story/interest-rates-held-after-knife-edge-vote-13464939
#interestrates #money #economy #bankofengland
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