The Bank's governor, Andrew Bailey, said policy makers "need to be sure that inflation will stay low and that's why we've decided to hold rates at 5.25% for now".
The decision comes a day after official figures showed the rate of inflation hit the Bank's 2% target in May for the first time in nearly three years, prompting Prime Minister Rishi Sunak to declare "we've got there."
This story is from the June 21, 2024 edition of Manchester Evening News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June 21, 2024 edition of Manchester Evening News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
DON'T PANIC
KOVACIC CONFIDENT BLUES CAN OVERCOME SLUMP
Zlatan not ruling out Vic switch
AC MILAN advisor Zlatan Ibrahimovic has refused to rule out the possibility of United centre-back Victor Lindelof joining the Italian club next summer.
Carsley gives respect to Ireland after Greece win
INTERIM boss Lee Carsley says celebrations are on ice as England look to follow up their impressive win in Greece by sealing promotion back to the Nations League top tier by beating the Republic of Ireland.
Young Heskey aims to step out of dad's shadow with Blues
\"IT'S the normal,\" says one of the latest City academy strikers catching attention in describing his upbringing.
Safety pledge for Brits going overseas for ops
THE Health Secretary has said he will work to improve safety for Britons travelling abroad for cosmetic procedures in the wake of several deaths.
£15m 'wasted' on migrant camp site
THE Home Office spent £15m buying a derelict prison contaminated with asbestos amid political pressure to stop housing migrants in hotels, according to Whitehall's spending watchdog.
Experts: Climate talks 'no longer fit for purpose'
THE process of UN climate negotiations is no longer fit for purpose and requires a comprehensive overhaul, leading experts have warned.
McCall reveals tumour diagnosis
CELEBRITIES have flocked to wish Davina McCall well after she revealed she has been diagnosed with a brain tumour, with fellow TV presenter Amanda Holden sending \"so much love\".
'Revenge' shooting teen faces years behind bars
BOY BLASTED AT CLOSE RANGE WITH SHOTGUN IN PREMEDITATED AND PRE-PLANNED' ATTACK
'It was dark, the waves were very high - it was very, very hard'
THE M.E.N. SPEAKS TO ASYLUM SEEKERS WHOSE HOUSING AT A HOTEL HAS DIVIDED A TOWN
