Experts unanimous on interest rate
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The Bank of England's monetary policy committee voted unanimously for this month's decision to keep interest rates on hold.
The Bank of England's monetary policy committee voted unanimously for this month's decision to keep interest rates on hold.
The surprise news about the October 5 meeting sent the pound down against the dollar.
The minutes of the bank's meeting two weeks ago show that all nine members supported the decision to keep the rate unchanged at 6%.
The previous two votes were far closer, both finishing in 5-4 decisions not to raise the rates. The unanimous decision will raise hopes that interest rates have peaked.
However, the minutes did show a worry that possible labour shortages could affect future decisions "Labour market conditions would need to be monitored very carefully for early signs of inflationary pressure" they said.
Interest rates have now been on hold for the last eight months as the economy shows signs of slowing down.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments