Bank of England pauses for first time since December 2021
The Bank of England (BoE) held its policy rate on September 21 at 5.25%, after 14 consecutive increases. The monetary policy committee voted 5–4 to begin a pause, with the minority favouring a further 25 basis point increase.
Since December 2021, the BoE has raised its policy rate from 0.1% to its present level. The bank rate was last this high in 2008.
The move follows surprisingly low inflation readings for August. Headline inflation was 6.7% year on year last month, down from 6.8% the month
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