BoE hold 'made sense' amid General Election-induced 'vow of silence'

More time needed to digest data

The decision by the Bank of England to hold interest rates for the seventh consecutive time at 5.25% was likely partially influenced by the current election campaign.

According to Laura Suter, director of personal finance at AJ Bell, the move by the central bank "made sense", considering it has taken a "vow of silence" during the campaigning period. The central bank announced at the end of last month that it was cancelling all speeches or public statements prior to the UK  election, and would just carry out essential business. Bank of England holds rates at 5.25% in final pre-General Election decision This meant the BoE would have not had the opportunity to explain its decision making should it have opted for a rate cut, following the return of ...