The Bank of England holds the Base rate at 5% for September 2024 and announces a £100 billion reduction in bond holdings to address inflation. Learn more about the MPC’s strategy.
The Bank of England’s Monetary Policy Committee (MPC) has confirmed that the Base rate will remain at 5% for September 2024. This decision reflects the committee’s careful approach to managing inflation while maintaining economic stability in the UK.
Monetary Policy Committee to Reduce Bond Holdings by £100 Billion
In conjunction with maintaining the Base rate, the MPC has announced plans to reduce its UK government bond holdings by £100 billion over the next 12 months, bringing the total down to £558 billion. This reduction is part of a larger effort to manage inflationary pressures and promote a stable economic environment.
Commitment to Inflation Target and Economic Growth
The MPC remains focused on achieving its long-term goal of 2% inflation while supporting sustainable economic growth and employment. These measures are crucial for ensuring that the UK economy remains resilient in the face of global economic challenges.
Learn More About the MPC’s Decisions
For further details on the MPC’s latest decision and its potential impact on the UK economy, visit Bank Rate maintained at 5% – September 2024 | Bank of England
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