Bank of England keeps interest rates at 4.75%, aiming to stabilize inflation at 2.6%.

The Bank of England has decided to keep interest rates at 4.75%, impacting mortgage holders, especially those on variable rates. This decision reflects the bank's aim to stabilize inflation, which is currently at 2.6%, above the target of 2%. Despite hopes for lower rates in 2025, significant decreases are not anticipated. The bank's recent economic forecast predicts no growth for the fourth quarter, down from a 0.3% expansion expectation.

3 months ago
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