Bank of England holds Bank Rate steady at 5%, urging sustainable path to target inflation

19 Sep 2024, 13:30 by Doug Cunningham · UPI

Sept. 19 (UPI) -- The Bank of England on Thursday held interest rates steady, saying it most work to reach its goal of 2% inflation in a sustainable way.

The Monetary Policy Committee voted 8-1 in favor of holding the Bank Rate at 5%, the dissenting member proposed a 0.25 percentage point cut.