Britain stuck in Tory ‘doom loop’ as Bank of England holds interest rates at 5.25%
Andrew Bailey, Governor of the Bank of England, during the Bank of England Monetary Policy Report press conference, at the Bank of England, London, November 2, 2023
BRITAIN is stuck in a Tory “doom loop,” the TUC warned after the Bank of England held interest rates at 5.25 per cent today.
Governor Andrew Bailey said it was “much too early” to consider cutting rates as the bank’s monetary policy committee downgraded its forecast for economic growth and said inflation could stay higher for longer.
TUC general secretary Paul Nowak said: “The UK is stuck in a Conservative doom loop, and it is working people who are paying the price.
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