Bank of England holds interest rates at 5.25%
The Bank of England has kept interest rates at 5.25%, this comes on the back of fourteen consecutive interest rate rises.
The Bank of England’s Monetary Policy Committee (MPC), who set interest rates voted as follows:
- 5 members voted to keep interest rates at 5.25%.
- 4 members voted to increase interest rates to 5.5%.
The MPC also voted unanimously to reduce the stock of UK government bond purchases held for monetary policy purposes, and financed by the issuance of central bank reserves, by £100 billion over the next twelve months.
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All information is correct as at 21/09/23.