In a close call, the Bank of England kept its benchmark rate unchanged unexpectedly for the first time since November 2021 as inflation eased to an 18-month low, while the economy is moving closer to a mild recession.
The BoE Monetary Policy Committee, headed by Governor Andrew Bailey, voted by a narrow margin of 5-4 to maintain the bank rate at 5.25 percent. Markets had widely expected a quarter-point hike.
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by Renju Jaya
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