Bank of England Maintains 4% Interest Rate Amidst Evolving Monetary Policy
TL;DR Summary
The Bank of England has decided to hold interest rates at 4%, citing ongoing inflation concerns and indicating that future rate cuts will be gradual and cautious. The decision impacts borrowing and savings, with the pound slightly weakening and mortgage rates remaining relatively low. Economists predict rates may stay at this level for the rest of the year, as inflation remains above target, and the Bank aims to manage economic growth and price stability.
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