Interest Rate Remains Unchanged in Latest Bank of England Vote

The interest rate has been left unchanged by the Bank of England (BoE) for the third time in a row, maintaining the 15-year high of 5.25 percent. The central bank has increased the rate in 14 consecutive meetings until it reached a peak in the summer. On Thursday, the BoE’s Monetary Policy Committee (MPC) voted by a majority of 6–3 to maintain the rate at 5.25 percent. Three members voted to raise the interest rate to 5.5 percent. Their vote may have been triggered by concerns over the latest wage inflation figures, showing an annual rate growth of 7.3 percent. The bank wouldn’t want wages rise at such a pace because it feeds into…