Bank of England keeps interest rate steady at 3.75 percent

The Bank of England has decided to keep its base interest rate steady at 3.75 percent. Even though the rate was held, financial reports note that a future rate hike is still possible depending on economic conditions. Meanwhile, borrowing costs have dropped after the bank decided to halt its bond sales. Experts are discussing the end game for quantitative tightening at the central bank, while consumer finance platforms like Money Saving Expert are advising people on what this steady rate means for their personal finances and when changes might happen next.