Bank of England maintains base rate at 5.25% amid inflation concerns.

The Bank of England has maintained its base rate at 5.25% for the sixth consecutive time, despite growing concerns about inflation. This decision implies that the decline in mortgage rates will be delayed, but savers could benefit from strong inflation-beating returns for a longer period. Some top easy-access accounts are paying interest rates above 5%, while others offer 5.25%. However, the central bank is seeking more evidence to confirm that inflation is under control before considering any changes to the interest rate.

May 09, 2024
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