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The current record low bank rate continues to be held at 0.1% which has been in effect since March last year to counter the effect on the economy of Covid-19.

The Monetary Policy Committee (MPC) voted 7-2 in favour of no change.

Many were betting on a rate rise in response to the current inflation rate of over 3% and the expectation that it will continue to rise to over 5% next year fueled mainly by higher energy costs.

Full Report Here