Bank of England Holds Interest Rate Steady Amid Inflation Concerns

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Bank of England Holds Interest Rate Steady Amid Inflation Concerns
Photo: Alberto Pezzali/AP/TT

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The Bank of England, as expected, is keeping the interest rate unchanged at 4.5 percent. Seven members voted to keep the rate at its current level, while one voted for a reduction of 0.25 percentage points.

Britain is currently also struggling with high inflation, which is currently above the inflation target of 2 percent, something that means the central bank does not want to lower the interest rate at present.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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