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Evening Standard
Evening Standard
Anna Wise

Bank of England holds interest rates but future cuts ‘likely’

Bank of England Interest Rates Andrew Bailey Inflation Carl Court Economic Growth ING MPC Unemployment United Kingdom
Governor of the Bank of England Andrew Bailey speaks during the Bank of England Monetary Policy Report press conference (Carl Court/PA) - (PA Wire)

The Bank of England has said future interest rate cuts are “likely” amid a slowdown in inflation, despite policymakers voting to hold rates at 3.75% on Thursday.

It came as the central bank also warned that economic growth is now set to be weaker than previously expected while unemployment is on track to jump higher.

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