India, April 30 -- The Bank of England maintained its key interest rate on Thursday but cautioned that there is a risk of material second-round effects from the energy price shock.
The Monetary Policy Committee voted 8-1 to hold the bank rate at 3.75 percent. The current rate remains at the lowest since June 2023. Previously, the BoE had reduced the rate by 25 basis points each in August and November last year. At the meeting, Huw Pill voted to increase Bank Rate by 0.25 percentage points, to 4 percent. He said a prompt but modest hike in interest rate will help mitigate upside risks to price stability stemming from a re-emergence of intrinsic inflation persistence.
For comments and feedback contact: editorial@rttnews.com
Published by HT...