Bank of England policymakers are widely expected to keep the benchmark interest rate at 3.75% for a fourth consecutive meeting, as they monitor developments in the Middle East, according to BBC. Official figures published on Wednesday showed UK inflation was 2.8% in the year to May, with food price rises slowing to a 17-month low, while transport costs rose at the fastest rate, the Office for National Statistics said.
The BBC said expectations of a hold were reinforced after the inflation reading came in lower than expected, ahead of the BoE’s next announcement at 12:00 BST on Thursday. Ofgem’s energy price cap, which affects millions of households, is set to rise by 13% in July. Moneyfacts data cited by the BBC showed that as of 17 June the average rate on a new two-year fixed mortgage was 5.60%, up from 4.83% at the start of March, while the average five-year fixed rate was 5.57%, up from 4.95%.
Bank of England expected to hold rates at 3.75% as UK inflation stays at 2.8%
2026-06-22 06:03:11
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
