Interest rates held at 4% as UK ‘not out of woods’ on inflation
The Bank of England has held interest rates at 4% as it said the UK was “not out of the woods” on inflation, with taxes contributing to rising food costs. The Bank’s Monetary Policy Committee (MPC) voted to keep rates unchanged, following a 0.25 percentage point cut in August. Governor Andrew Bailey said: “Although we expect inflation to return to our 2% target, we’re not out of the woods yet […]