BoE holds policy rate as MPC flags persistent inflation

Headline price rises forecast to drop below 2% within months, but wage growth remains high

Bank of England
Bank of England
Photo: Juno Snowdon Photography

The Bank of England (BoE) held its policy rate at 5.25% today (March 21), as a majority of policy-makers warned inflation was still too persistent.

The monetary policy committee (MPC) voted 8–1 in favour of the decision. Swati Dhingra was the sole dissenter, preferring a 25 basis point cut.

For most MPC members, certain stubbornly high components of inflation were the main factors behind their decision. “Key indicators of inflation persistence remained elevated,” these members said, according to

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