News Release
Bank of England Maintains Interest Rates at 7.50%
10 September 1998
The Bank of England’s Monetary Policy Committee has today voted to maintain the Bank’s repo rate at 7.50%.
The Committee discussed extensively the potential impact of recent international and domestic economic developments on the outlook for UK activity and inflation. Although the Committee judges that the current level of interest rates is necessary to meet the inflation target, it recognises that deterioration in the international economy could increase the risks of inflation falling below the target. The Committee will continue to monitor these risks.
The minutes of today’s Monetary Policy Committee meeting will be published on Wednesday 14 October. The minutes of the meeting held in August will be published on Wednesday 16 September.
