Bank of England keeps interest rates at 5.25% in ‘finely balanced’ decision

Financial markets expected the decision from the Bank of England. Photograph: Tolga Akmen/EPA

The Bank of England has held interest rates at 5.25% for the seventh consecutive time in what it described as a “finely balanced” decision.

Dashing Rishi Sunak’s hopes of a pre-election cut in the cost of borrowing, a majority of the Bank’s monetary policy committee (MPC) said they wanted to see further evidence that price growth would remain subdued.