Thursday, 21 September 2023 The Bank of England (BoE) has brought the most aggressive cycle of interest-rate rises in more than three decades to a close amid falling inflation and mounting fears of recession. The central bank held key rate at 5.25%, ending a series of 14 successive hikes since December 2021, when rates were just 0.1%
August saw an unexpected decline in Britain's high inflation rate, which dropped to 6.7%, its lowest level since February 2022. Investors have begun to speculate on whether the Bank of England will hit the pause button on its historic run of interest rate hikes.
Andrew Bailey, the governor of the Bank of England, has insisted “the job is not done” on falling inflation as the Bank of England decides to leave its interest rate at 5.25%.
Report by Ajagbef...
Thursday, 21 September 2023
![Bank of England governor says ‘the job is not done’ [Video]](https://video.newsserve.net/300/v/20230921/1358243109-Bank-of-England-governor-says-the-job-is.jpg)
!['Premature' to be talking about interest rate cut, Bank of England governor warns [Video]](https://video.newsserve.net/300/v/20230921/1695313355-apos-Premature-apos-to-be-talking-about-interest.jpg)
