²ÝÁñÉçÇø

Bank of England holds base rate

The rate will be held at 5.25 per cent after a fall in inflation

Alex Black
clock • 1 min read
Bank of England holds base rate

The Bank of England (BoE) has announced a hold on interest rates, keeping rates steady at 5.25 per cent. Its Monetary Policy Committee voted by a narrow margin of five to four to hold rates, with four voting for a 0.25 per cent rise.

It follows 14 consecutive interest rate rises as BoE tried to get inflation under control.

Overall inflation fell to 6.7 per cent in the year to August, down from 6.8 per cent in July, according to the Office of National Statistics.

See also: House prices fall for fourth consecutive month as UK sees end to Covid 'country escape' boom

VIDEO: Top tips on diversifying from industry experts

Food prices including milk, bread and vegetables decreased during the same month but economists had expected a rise following hikes in petrol and diesel prices.

2022 New Holland T7.270

£±Ê°¿´¡

2022 CASE-IH PUMA 165CVX

£±Ê°¿´¡

NEW NEW HOLLAND 110HP T5.110DC

£±Ê°¿´¡

More on Politics

NFUS raises 'impartiality' concerns over Galloway National Park public consultation

NFUS raises 'impartiality' concerns over Galloway National Park public consultation

In a letter to Cabinet Secretary for Rural Affairs, Land Reform and Islands Mairi Gougeon, NFUS president Martin Kennedy highlighted that NatureScot's established position in favour of a Galloway National Park calls into question its ability to conduct a public consultation in an ‘impartial manner'

clock 10 November 2024 • 3 min read
US economist considers Donald Trump's impact on agriculture following re-election

US economist considers Donald Trump's impact on agriculture following re-election

Paula Bauer, vice-president of Agricultural Consumer and Retail at GlobalData, offers her view on some of the changes expected in the US agribusiness industry from Trump 2.0

clock 09 November 2024 • 2 min read
"Agriculture is too important to be ignored by politicians" - Ulster ²ÝÁñÉçÇø Union holds 'crisis meeting' to discuss threat to farming

"Agriculture is too important to be ignored by politicians" - Ulster ²ÝÁñÉçÇø Union holds 'crisis meeting' to discuss threat to farming

The Ulster ²ÝÁñÉçÇø' Union (UFU) held a crisis meeting with Northern Ireland's leading food businesses and organisations to address the threat facing farming from government policies

clock 09 November 2024 • 2 min read