{"id":8617,"date":"2023-11-02T12:18:49","date_gmt":"2023-11-02T12:18:49","guid":{"rendered":"https:\/\/infundpros.com\/business\/bank-of-england-holds-interest-rates-at-5-25\/"},"modified":"2023-11-02T12:18:49","modified_gmt":"2023-11-02T12:18:49","slug":"bank-of-england-holds-interest-rates-at-5-25","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=8617","title":{"rendered":"Bank of England holds interest rates at 5.25%"},"content":{"rendered":"<div>\n<p>Stay informed with free updates<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Simply sign up to the <!-- -->UK interest rates<!-- --> myFT Digest &#8212; delivered directly to your inbox.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=a651dda1-89b0-448b-b624-e8d41592020e&amp;concept-id=d17153e9-f07d-49ad-8dbd-4cb23d6bbc9b\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>The Bank of England has kept interest rates on hold at 5.25 per cent for the second successive meeting and warned monetary policy will need to stay restrictive for \u201can extended period of time\u201d despite a bleak economic outlook.<\/p>\n<p>The Monetary Policy Committee voted six to three to keep its benchmark rate unchanged at 5.25 per cent, as had been widely expected. A minority of members sought a further quarter-point increase.<\/p>\n<p>The MPC\u2019s vote to maintain rates at 5.25 per cent came after decisions to keep rates on hold by the US Federal Reserve on Wednesday and the European Central Bank last week. Those stances have bolstered investors\u2019 confidence that the global rate rise cycle may have reached its peak.<\/p>\n<p>BoE governor Andrew Bailey said the MPC would be watching \u201cclosely\u201d to see if further rate rises were needed, adding \u201cit\u2019s much too early to be thinking about rate cuts.\u201d<\/p>\n<p>But new forecasts from the Bank show it is treading a delicate line as it seeks to beat inflation while not pushing a weakening UK economy into an outright recession in 2024 \u2014 which is expected to be an election year.<\/p>\n<p>UK interest rates are at their highest levels since the financial crisis, as the bank weighs evidence of weak growth against consumer price inflation of 6.7 per cent.<\/p>\n<p><em>This is a developing story<\/em><\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.ft.com\/content\/a651dda1-89b0-448b-b624-e8d41592020e\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stay informed with free updates Simply sign up to the UK interest rates myFT Digest &#8212; delivered directly to your inbox. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-8617","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bank of England holds interest rates at 5.25% | inFundPros<\/title>\n<meta name=\"description\" content=\"Stay informed with free updatesSimply sign up to the UK interest rates myFT Digest -- delivered directly to your inbox.The Bank of England has kept\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=8617\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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