Bank of England pauses for first time since December 2021

The Bank of England
Bank of England

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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