General view of the Bank Of England building in London.
LONDON — The Bank of England on Thursday opted to keep interest rates steady at its June meeting, confirming market expectations even after U.K. inflation hit its 2% target.
It keeps the central bank's key rate at a 16-year high of 5.25%, where it has been held since August 2023.
Seven members of the Monetary Policy Committee voted to hold, while two favored to cut, the same as during the bank's May meeting.
However, economists say the U.K.'s continued high rates of services and core inflation suggest the potential for ongoing upward pressure.
Organizations:
Bank, LONDON, Bank of England, Monetary
Locations:
London