Interest rates held at 3.75%

• The Bank of England has held interest rates at 3.75% – remaining at their lowest level since February 2023
• The decision, by the Bank’s Monetary Policy Committee, had been widely expected by economists
• Governor Andrew Bailey says his main message is “good news”, with inflation due to fall to the Bank’s 2% target sooner than expected
• In December, the committee cut rates from 4%, reflecting concerns over rising unemployment and weak economic growth

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