Bank of England holds rates amid ‘elevated uncertainty’
UK central bank opts to stick at 4.5%, citing potential for increased financial volatility
The Bank of England announced today (March 20) that it was holding interest rates at 4.5%.
In its statement, the BoE said “global trade policy uncertainty” had “intensified” and geopolitical developments pointed to increased volatility in the financial markets. It drew particular attention to the US administration’s tariffs and to proposals within Germany to allow increased borrowing to fund defence.
The monetary policy committee (MPC) voted 8–1 in favour of holding. The one dissenting member
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