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Bank of England leaves interest rates unchanged, says policy to stay tight for 'extended period'

Posted on AllSides November 2nd, 2023
From The Center

A member of the public walks through heavy rain near the Bank of England in May 2023. LONDON — The Bank of England on Thursday left interest rates unchanged, but said monetary policy will likely need to stay tight for an "extended period of time." The Monetary Policy Committee voted 6-3 in favor of keeping the main Bank rate at 5.25%, with three members preferring another 25-basis point hike to 5.5%. "The MPC's latest projections indicate that monetary policy is likely to need to be restrictive for an extended period...

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