Bank of England keeps main UK interest rate unchanged at 15-year high of 5.25%
LONDON (AP) — The Bank of England has kept its main interest rate unchanged at the 15-year high of 5.25%, as inflation across the U.K. is expected to fall further over the coming months.
In a statement Thursday, the bank’s nine-member Monetary Policy Committee indicated that inflation, as measured by the consumer price index, is set to fall toward a 2% target rate over the coming year. In the year to September, inflation stood at 6.7%.
Most economists expect a sizable decline over coming months as domestic energy bills fall.
The bank in September ended a nearly two-year run of interest rate rises.
Credit: Bank of England keeps main UK interest rate unchanged at 15-year high of 5.25%
