The Central Bank of England decided to vote to raise interest rates by 25 basis points in its meeting today, issued moments ago, to reach 4.25%, as expected by a majority of members 7-2, as two members preferred to keep interest rates unchanged.

The bank’s interest statement stated that the gross domestic product is expected to remain flat at the start of the year but is expected to rise slightly in the second quarter compared to the 0.4% decline forecast in the February report.

Inflation in the consumer price index fell from 10.5% to 10.1% in January, but rose again to 10.4% in February, up 0.6% from what was expected in the February report, but the Bank still expects the index to decline in the second quarter to a lower rate than it was. expected in the February report.

The Monetary Policy Committee will continue to monitor indicators of persistent inflation pressures, and if it deems more persistent pressures, further tightening of monetary policy will be required.