Bank of England Pauses Rate Hikes After 14 Increases, Hinting Rates May Stay Elevated For Some Time
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After 14 rate hikes, Bank of England holds base rate at 5.25% in Dec. 2022, ending increases.
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Borrowers may see relief, but rates expected to stay elevated for some time.
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Inflation was 6.7% in Oct. 2022; BoE wants to ensure it falls sustainably.
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Policymakers hint at "Table Mountain" approach - holding rate at 5.25% for up to a year.
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Unclear if now is a good time to buy/sell property as rates remain high.