• Monday, August 08, 2022

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Bank of England Keeps Interest Rate on Hold at 0.75%

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the two per cent inflation target. (Photo by Alberto Pezzali/NurPhoto via Getty Images).

By: Radhakrishna N S

The Bank of England kept its interest rates on hold at 0.75 per cent on Thursday (13) and noted higher economic concerns about Britain’s move to leave European Union, a month after hiking rates only the second time in over a decade. The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the two per cent inflation target, and in a way that helps to sustain growth and employment. At its meeting ending on Wednesday (12), the MPC voted unanimously to maintain Bank Rate at 0.75 per cent, according to a statement from the Bank of England.…

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