What could be the effects of keeping interest rates the same on people and businesses in our community?
The Bank of England is expected to hold interest rates as it waits for more evidence that a fresh bout of inflation risks a damaging wage-price spiral. Economists and investors expect the Monetary Policy Committee to leave the benchmark cost of borrowing at 3.75%, where it’s been since December last year. Matthew Bunny, UK economist at Bloomberg Economics, breaks down the situation. (Source: Bloomberg)