$GBINTR -U.K Interest Rates
GBINTR(December/2024)
source: Bank of England
The Bank of England left the benchmark bank rate steady at 4.75% during its December 2024 meeting,
in line with market expectations, as CPI inflation, wage growth and some indicators of inflation expectations had risen, adding to the risk of inflation persistence.
The central bank reinforced that a gradual approach to removing monetary policy restraint remains appropriate and that monetary policy will need to continue to remain restrictive for sufficiently long until the risks to inflation returning sustainably to the 2% target in the medium term have dissipated further.
The central bank will continue to decide the appropriate degree of monetary policy restrictiveness at each meeting.
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