Bank of England Says Inflation Has ‘Peaked’ as Interest Rates Kept at 4 Percent

The Bank of England has held interest rates. John Walton/PA

The Bank of England has held interest rates at 4 percent despite policymakers stating they believe inflation has “peaked”.

In a tight vote, the central bank’s Monetary Policy Committee (MPC) opted to keep the rate the same for the second consecutive time in its final meeting before the autumn Budget.