The Bank of England is set to join its peers in the U.S. and Europe in keeping borrowing rates unchanged at its policy meeting Thursday despite mounting worries over the state of the British economy.
The central bank is expected to keep its main interest rate at a 15-year high of 5.25%, where it has stood since August. Holding that high rate follows two years of hikes that targeted a surge in inflation, first stoked by supply chain issues during the coronavirus pandemic and then Russia’s invasion of Ukraine, which pushed up food and energy costs.
