The Bank of England is likely to keep its key interest rate unchanged at 3.75% today (Thursday), given signs of a gradual recovery in the UK economy and inflation remaining above target.
Over the past 18 months, the Bank of England, which governs Britain’s monetary policy, has been on a path of gradual interest rate cuts, often once every three months.
The key interest rate was last cut by a quarter of a percentage point in December last year, when the bank signaled that it could cut further rates this year based on inflation trends and economic performance.
The Bank of England will keep its key interest rate unchanged at 3.75% today (Thursday) as inflation remains above target with signs of a gradual recovery in the UK economy.
Over the past 18 months, the Bank of England, which governs Britain’s monetary policy, has been cutting interest rates in stages, often once every three months.
The last time the key interest rate was cut was in December last year, by a quarter of a percentage point, and at the time the central bank signaled the possibility of further cuts this fiscal year, depending on inflation trends and economic conditions.
