Bank of England Holds Rates at 5.25 Percent
Posted on 11/03/2023
On November 2, 2023, Bank of England held interest rates at the highest levels in 15 years. The committee was again divided on the best course of action to fight high inflation. 6 members of the Bank of England’s 9-member rate-setting committee voted to keep rates at 5.25%. Three members voted to raise rates by 25 basis points to 5.5%. The U.S. Federal Reserve on November 1, 2023 held rates at its target range of 5.25%-5.5%, and the European Central Bank kept rates unchanged in October 2023.
