Bank of England keeps interest rates at 3.75% as inflation concerns persist

Decision was widely expected after data showed inflation rose to 3.4%, well above Bank’s 2% targetBusiness live – latest updatesUK inflation rises for first time in five months to 3.4% in DecemberBank of England policymakers have left interest rates on hold at 3.75%, amid concerns about persistent inflation.The central bank’s nine-member monetary policy committee (MPC) has decided to leave borrowing costs unchanged after cutting rates six times since mid-2024. Its most recent quarter-point reduction, from 4%, was in December. Continue reading...