Bank of England base rate rises again to 4.25%

Industry News | 28/03/23

Last week, we saw the Bank of England base rate rise further, now standing at 4.25%. It was widely expected that inflation would continue to fall as it did in January 2023, however, in a surprise to the economy, inflation went from 10.1% in January to 10.4% in February. The members of the Monetary Policy Committee therefore voted 7-2 in favour of increasing the rate from 4% to 4.25%. Two members had voted to retain the rate at the current 4%.

Source: Bank of England