Bank of England divided over timing of interest rate cuts amid fears inflation is creeping higher
A BATTLE is brewing within the Bank of England as the nine people who decide Brits’ borrowing costs are at odds over the timing of interest rate cuts.
The Bank yesterday held interest rates at 4.75 per cent amid rising fears that inflation is creeping higher again.
The Bank’s Governor, Andrew Bailey, said there was ‘heightened uncertainty in the economy’PARecords show that there was a surprising split in the ranks — with six members voting to keep them steady and three...
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