The Bank of England (BoE) has held interest rates at 5.25 per cent for the fourth time in a row. This is no big surprise: with inflation ticking back up slightly on the year to December (rising to 4 per cent) – continued trade disruption in the Red Sea last month is expected to have some impact on prices – it was unlikely that the Monetary Policy Committee was going to start a rate-cutting spree so early in the year.
Instead, the hints are in the language used by the Monetary Policy Committee (MPC) in its report.
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