Bank of England remains in 'wait-and-see' mode as rates held at 0.1%

MPC voted 7-2

clock • 2 min read

The Bank of England has held interest rates at the record low of 0.1%, on a 7-2 vote.

The news was announced following the bank's Monetary Policy Committee meeting, after much speculation that the bank would raise interest rates in the face of rising inflation. Ed Monk, associate director at Fidelity International, said: "It seems inevitable that the Bank of England will raise rates at some stage but borrowers have been given a reprieve for now. The MPC appears in wait-and-see mode while supply chain issues and higher global energy prices - factors beyond the control of the Bank - push inflation higher. "A delay in raising rates is a signal of the conundrum facing rate...

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