After a series of interest rate hikes, the Bank of England (BoE) is taking a break for the second time in a row. The London Central Bank decided on Thursday during its meeting in London to maintain the previous monetary policy level of 5.25 percent. It stopped its series of 14 interest rate hikes in a row in September, with which the monetary authorities combated high inflation.
However, the decision to pause again was internally controversial: the decision was made by six votes to three. In Great Britain, consumer prices rose by 6.7 percent in September compared to the same month last year. This means that the inflation rate is still the highest among the large industrialized countries. However, most economists expect inflation to have fallen in October. With its renewed interest rate pause, the BoE is following in the footsteps of the US Federal Reserve. This had already left the key interest rate in the range of 5.25 to 5.50 percent on Wednesday.