The Bank of England, as predicted, kept the base interest rate at 5.25% per annum. This is stated in the statement of the British regulator.
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Inflation in the UK decreased over the year from 10% to 4%. According to the Bank of England's forecasts, in the second quarter of 2024 it will be the target 2%.
Six members of the Bank of England Monetary Policy Committee spoke in favor of keeping the rate unchanged, two insisted on raising it to 5 .5%, another one – on a decrease to 5%.
The decision of the Bank of England coincided with analysts' forecasts, notes The Guardian. Despite the fact that the rate was not raised, it remains at the maximum for the last 16 years.
