Bank of England has held interest rates again... But why?

Andrew Bailey, governor of the Bank of England, said inflation was “moving in the right direction” as policymakers voted to leave interest rates on hold for the fifth consecutive meeting. The decision means the Bank Rate remains at a post-financial crisis high of 5.25 per cent, a level reached last August. While the decision was widely expected, the Monetary Policy Committee’s (MPC) two hawkish outliers – Catherine Mann and Jonathan Haskell – backed a hold rather than a hike. Swati Dhingra was the only member of the MPC to back a 25 basis point cut. Click for more information ⬇️ https://www.cityam.com/bank-of-england-holds-interest-rates-again-but-bailey-says-things-are-moving-in-the-right-direction/ Get more of City A.M. 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: http://www.linkedin.com/company/cityam #bankofengland #interestrates #inflation #recession #personalfinance #costofliving #costoflivingcrisis #economy #ukeconomy #uknews #news #trendingnews #trendingnews Produced by: Emmanuel Nwosu, Scarlett Wild, Andy Silvester, Larissa Howie