Bank Of England Holds Interest Rates Steady

The Bank of England has elected to hold its benchmark interest rate at current levels and stressed that future decisions will be data dependent. In announcing its decision to keep its key Bank Rate at 5.25%, the British central bank said that an interest rate cut in June of this year is not guaranteed. The Bank of England also cautioned that inflation risks remain elevated, noting that services inflation came in at 6% in March, and that there are continued geopolitical risks as well.Two inflation reports are expected before the central bank’s next meeting on June 20 and both will be…