Following a surprise decrease in inflation in August, the Bank of England has announced its decision to pause interest rates, in contrast to many of the UK’s neighbours.
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00:00 The Bank of England has opted to hold interest rates at their current level after a surprise
00:06 fall in UK inflation. Its rate remains at 5.25%, the highest level in 15 years. The
00:14 decision has confounded the expectations of many observers, who tip the bank to go for
00:19 another quarter percent hike despite the drop in inflation to 6.7%. It will come as a big
00:24 relief to homeowners across Britain who have seen mortgage rates rise in line with two
00:30 years of interest rate increases. Separately, the Bank of Switzerland also left rates unchanged,
00:36 while Turkey's central bank raised its rate.
00:38 [WHOOSH]