By holding rates steady, the Fed acted as many experts predicted. In its press release, the central bank cited a stable unemployment rate, expanding economic activity and favorable labor market conditions. However, it also acknowledged inflation remains slightly elevated at 2.8% for the 12 months ending February 2025.

The Bank rate heavily influences the cost of borrowing for households, businesses and the government, as well as returns for savers. It was cut from 4.75% to 4.5% following the la

THE Bank of England has decided to keep interest rates unchanged, delivering a blow to homeowners hoping for help with mortgage bills. At today’s meeting of the Monetary Policy Committee