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The Bank of England cut its main interest rate by a quarter of a percentage point to 4.75% on Thursday after inflation across the U.K. fell significantly, relieving some pressure on borrowers who ...
Inflation is forecast to average 2.5 per cent this year and 2.6 per cent next year before coming down, assuming “the Bank of England responds” to help bring it to the target rate, the OBR said.
The Bank of England’s nine-member Monetary Policy Committee kept its main interest rate unchanged at 4.75% with new data showing inflation rising to 2.6%, further above the bank's 2% target.
The Bank of England held interest rates steady at 4.75 per cent on Thursday after it was revealed that inflation in November rose to 2.6 per cent, above the central bank’s target.. The move ...
The Bank of England decided to hold interest rates at 4.75% last month, after policymakers said the UK economy had performed worse than expected, with no growth at all between October and December.
Inflation in the U.K. unexpectedly fell in December, a move that has bolstered expectations that the Bank of England will cut interest rates again next month and relieved some pressure on the U.K ...
Under the Bank of England Act 1998 (c. 11) the Bank's Governor must write an open letter of explanation to the Chancellor of the Exchequer if inflation exceeds the target by more than one percentage point in either direction, and once every three months thereafter until prices are back within the allowed range. It should also set out what plans ...
The Bank of England is widely expected to keep interest rates unchanged on Thursday, a day after official figures showed inflation in the U.K. holding steady at an annual rate of 2.2% in August ...