Bank of England Holds Rates at 4%

The Bank of England held interest rates at 4% in a tight vote that laid the groundwork for a December cut. Five members of the Monetary Policy Committee voted to leave policy unchanged, with Governor Andrew Bailey swinging the decision, while four called for a quarter-point cut to 3.75%. The BOE said September inflation of 3.8% “is likely to be the peak.” Bloomberg’s Lizzy Burden reports.