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The Bank of England left the rate at 5.25% per annum

June, 20 2024
watermark Economic news

The Bank of England kept the base interest rate at 5.25% per annum at the end of the June meeting, according to the British Central Bank. 


The decision coincided with the forecasts of the market and analysts. Seven of the nine members of the Monetary Policy Committee (MPC) voted to keep the rate, while Matchmakers Dingra and Dave Ramsden proposed lowering it by 25 basis points.


Most experts predicted that the regulator would make just such a decision, despite the fact that inflation in May fell to the 2% target for the first time since 2021.


The Monetary Policy Committee of the Bank of England has left the rate unchanged for seven consecutive meetings, maintaining it at its highest level in the last 16 years. The market expects that the regulator will start lowering the rate no earlier than November.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.