Business · 2 hours ago
Bank of England holds interest rates despite rising inflation, doesn't follow the Fed's lead
The Bank of England kept its main interest rate at 3.75% on Thursday, even though UK inflation rose to 3.1% in August. Six members of the Monetary Policy Committee voted to hold rates, while three wanted a 0.25% increase to 4%. Governor Andrew Bailey warned that a rate hike is becoming more likely if global energy costs continue to affect prices and wages.
Reported by CNBC · How we write briefs