The Bank of England left its rate at 5.25% after lowering the rates in the previous meeting on eb 7th. Since then credit markets have remained on the decline, inflation in the country has been on the rise, and retail sales have moderated.Home prices continue to be elevated and consumer confidence in the UK has been falling.
The following is an unedited transcript of the news release from the Bank of England.
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 5.25%.
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