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Bank of England keeps interest rates on hold at 5.25%

Decision follows 14 consecutive rises and fall in inflation as concerns grow over strength of economy

  • Business live – latest updates
  • UK politics live – latest updates

The Bank of England has kept interest rates on hold for the first time in almost two years, leaving borrowing costs at 5.25% amid growing concerns over the strength of the UK economy.

In a critical week for the economy, the Bank’s monetary policy committee halted the cycle of rate hikes – after 14 consecutive rises since the end of 2021 – over concerns about the economy and after figures on Wednesday showed a surprise fall in inflation.

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