Posted 11/2/2023, 12:28:17 PM
Bank of England Holds Interest Rates Steady Despite Gloomy Economic Outlook
- Interest rates likely to stay high and could rise further, despite forecasts of zero UK growth until 2025
- Bank of England left rates unchanged at 5.25%, highest level in 15 years
- Sharp slowdown expected in pace of price rises in coming months
- Governor Bailey too early to think about rate cuts, rates may need further increases
- Inflation easing but expected to remain above 2% target throughout next year