Interest Rates are likely to stay high despite fears of recession.

Economists expect Bank of England to hold interest rates at 5.25% on Thursday 2^nd November 2023.

Reuters (News Agency) poll of analysts said that 61 out of 73 anticipate the Bank’s Monetary policy committee (MPC) to keep rates steady when they meet on Thursday.

This could be down to the fact that European Central Bank have decided to hold rates last week as well as meeting of the US Federal Reserve where bankers are also expecting to leave rates unchanged.

In September MPC’s meeting 4 out of 9 members voted in favour to increase Base rate to 5.5%.

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Information sourced & for full article please visit This is Money: Interest rates to stay high amid recession fears (msn.com)

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