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      • The Bank has been hiking rates since December 2021 in an effort to tackle inflation in the UK, which is much higher than usual and putting households under financial pressure. By making it more expensive for people to borrow money, it hopes households will cut back and buy fewer things. It also might mean that firms will raise prices less quickly.
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  2. Sep 19, 2024 · The Bank of England (BoE) decided to hold interest rates at 5% in its most recent monetary review. The Bank's Monetary Policy Committee (MPC) board members' decision was 8-1, with only one member ...

  3. Sep 18, 2024 · Interest rates held at 5% but 'on the path down'. Interest rates are "now gradually on the path down", the Bank of England governor has said after borrowing costs were held at 5%. Andrew Bailey ...

  4. May 9, 2024 · Bank Rate is the single most important interest rate in the UK. In the news, it's sometimes called the ‘Bank of England base rate’ or even just ‘the interest rate’. Our Monetary Policy Committee (MPC) sets Bank Rate.

  5. The Bank of England sets the UK’s base interest rate, Bank Rate. It’s also sometimes known simply as ‘the interest rate’. Bank Rate influences the level of all other interest rates in the UK. Bank Rate was almost zero (0.1%) at the beginning of December 2021. It is 5% now.

  6. Nov 2, 2023 · Interest rates have been held and the Bank's governor says it is far too early to think about cutting them - and yet, mortgage brokers expect a slight improvement in fixed-deal mortgage rates....

  7. Sep 21, 2023 · The Bank of England leaves interest rates unchanged, in a surprise move. It had been expected to raise the base rate from 5.25% to 5.5%

  8. Mar 21, 2024 · The Bank of England holds interest rates at 5.25% for the fifth time in a row. The central bank's Monetary Policy Committee voted by a majority of 8–1 to keep rates unchanged.

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