Bank of England holds interest rates at 4% ahead of make-or-break budget
Borrowing costs kept unchanged for second meeting in a row, with inflation at nearly twice official target
The Bank of England has kept interest rates on hold at 4% as it warned unemployment was rising and growth remains weak as Rachel Reeves prepares for her make-or-break budget.
With less than three weeks before the chancellor’s highly anticipated tax and spending measures, the Bank’s monetary policy committee (MPC) voted by a narrow five-four majority to keep borrowing costs unchanged for a second consecutive meeting.
