Bank says inflation has 'peaked' as it holds interest rates
16 hours ago Share Save Michael Race Business reporter Share Save
Bank of England governor explains why interest rates were held
Interest rates were held at 4% in a tight vote as the Bank of England said it judged inflation in the UK to have peaked. Policymakers voted 5-4 in favour of leaving rates unchanged on Thursday but said borrowing costs were "likely to continue on a gradual downward path". Bank governor Andrew Bailey said rather than cutting interest rates now, he would "prefer to wait and see" if price rises continued to ease this year.
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