Interest rates remain frozen - when will the Bank of England cut the cost of borrowing?

The Bank of England has held interest rates for the fifth consecutive monetary policy meeting. Here is what it means for your money.

interest rate signs in ice
(Image credit: Getty Images)

Interest rates have been frozen by the Bank of England (BoE) for the fifth consecutive monetary policy committee meeting (MPC).

The central bank opted to hold interest rates during its March meeting, meaning the cost of borrowing has been at the same level since August 2023.

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Marc Shoffman
Contributing editor

Marc Shoffman is an award-winning freelance journalist specialising in business, personal finance and property. His work has appeared in print and online publications ranging from FT Business to The Times, Mail on Sunday and the i newspaper. He also co-presents the In For A Penny financial planning podcast.