Bank Of England Governor Points To 'Uncertainty' Triggered By The Budget As Economy Set To Stagnate
Governor of the Bank of England Andrew Bailey
Bank of England governor Andrew Bailey alluded to the “uncertainty” caused by Labour’s October Budget as officials predict zero growth for the end of 2024.
The Bank chose not to lower interest rates on Thursday after stubborn inflation rates climbed up from 2.3% in October to an eight-month high of 2.6%
The Bank’s monetary policy committee voted to hold interest rates – the price of borrowing – at 4.75%.
It means UK interest...
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