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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

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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 trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.