Bank of England ‘Unlikely’ to Cut Interest Rates as Inflation Pressure Grows

Bank of England ‘unlikely’ to cut interest rates as inflation pressure grows

Most economists think the Bank of England’s Monetary Policy Committee (MPC) will opt to keep rates on hold when it meets on Thursday. The Bank of England is predicted to keep UK interest rates at 4.25% on Thursday amid rising food inflation and the threat of surging oil prices pushing up the cost of living. Most economists think the Bank of England’s Monetary Policy Committee (MPC) will opt to keep rates on hold when it meets on Thursday. The MP…

UK interest rate cut all but ruled out

Rates are expected to remain at 4.25% when the Bank of England announces its decision tomorrow

Latest inflation figures ends hope of a rate cut

Consumer prices index (CPI) remained stubbornly high at 3.4% in May, according to the latest figures from the Office for National Statistics (ONS).

Bank will be slow to cut rates with inflation so far from target