Bank of England keeps interest rates the same

As expected the Bank of England have decided to keep the base interest rate in the UK at 5.25%.

‘There are concerns about a potential growing rate of inflation, which is why they probably chose to keep the interest rate the same.’

The inflation rate has crept up to 2.2%, the aim of The Bank is to keep it as close to 2% as possible.

The Bank of England get together every month and decide the best course of action to keep our economy as stable as possible, whilst keeping inflation low.

Read more about it in the article Base Interest Rate stays at 5.25%