UK inflation stays high, potentially pausing interest rate hikes
Persistently high inflation challenges policymakers as Bank of England considers next steps on rates.
Photo: Chris Lawton
Key Takeaways
- UK inflation remains significantly above the Bank of England's 2% target.
- Persistent inflation may prompt the central bank to pause further interest rate hikes.
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UK inflation remains nearly double the Bank of England’s target as policymakers prepare for a likely pause in interest rate increases.
The persistent elevated inflation reading comes as the central bank weighs whether to halt its series of rate hikes that have been implemented to combat rising prices across the economy.
The inflation rate continues to run well above the Bank of England’s 2% target, presenting ongoing challenges for monetary policy officials who have been raising borrowing costs to bring price pressures under control.
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