Bank of England halts interest rate cuts amid ongoing inflation

Eight MPC members voted in favour holding the interest rate steady, while Swati Dhingra wanted to reduce the rate by another 0.25 percentage points. Last month, the MPC implemented a quarter point rate cut from 4.75% to 4.5%. Today (20 March), the MPC said that since its previous meeting uncertainty surrounding global trade policy had intensified, with the US pushing with a series of trade tariffs on major trading partners.  "Other geopolitical uncertainties have also increased and indicators of financial market volatility have risen globally," the BoE said. "The German government ...