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\n The Bank of England on Thursday kept interest rates steady at five percent, a month after cutting them for the first time since March 2020.<\/p>\n

The Monetary Policy Committee (MPC) of the central bank said in a statement that eight of its nine members voted in favor of the decision to keep rates steady, based on the decline in inflation that stabilized at 2.2 percent last month.<\/p>\n

The committee reiterated that it will continue to monitor economic indicators before adopting any new interest rate cuts, adding that the decline in inflation will allow it to adopt a cautious and slow interest rate reduction policy in the coming months.<\/p>\n

It also stressed that it is important to keep inflation at low levels while avoiding rapid or large interest rate cuts in order to avoid any negative effects on economic growth.<\/p>\n

The Bank of England gradually raised interest rates from 0.1 percent to 5.25 percent in late 2021 last summer, and stabilized at this level for a year before reducing it to five percent in August.<\/p>\n

Source: Ku
\nwait News Agency <\/p>\n","protected":false},"excerpt":{"rendered":"

The Bank of England on Thursday kept interest rates steady at five percent, a month after cutting them for the first time since March 2020.<\/p>\n

The Monetary Policy Committee (MPC) of the central bank said in a statement that eight of its nine members vo…<\/p>\n<\/div>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":["post-274346","post","type-post","status-publish","format-standard","hentry","category-production"],"yoast_head":"\nBank of England holds interest rate at five pct - Fujairah Updates<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fujairahupdates.com\/bank-of-england-holds-interest-rate-at-five-pct\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank of England holds interest rate at five pct - Fujairah Updates\" \/>\n<meta property=\"og:description\" content=\"The Bank of England on Thursday kept interest rates steady at five percent, a month after cutting them for the first time since March 2020. 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