Bank of England Votes to Hold Interest Rate at 5.25 Percent

Many mortgage-holders are yet to experience the impact of the bank’s two-year long cycle of interest rate hikes, paused in September.

Governor of the Bank of England Andrew Bailey addresses the media on the Monetary Policy Report at the Bank of England, in London, on Nov. 3, 2022. Toby Melville/Pool/AFP via Getty Images

The official bank base interest rate in the UK has remained at 5.25 percent, following a vote by the Bank of England (BoE).

The decision by the bank’s Monetary Policy Committee (MPC) was published on Thursday, after a 6-3 vote in favour of holding the rate at the level set last month.