The governor of the Bank of England, Andrew Bailey, has warned doing 'too little' with interest rates may mean further hikes are needed in the future.
Further increases had been expected but comments from Mr Bailey indicate that may not be the case and the rate may stay at 4% for some time.
"At this stage, I would caution against suggesting either that we are done with increasing Bank rate, or that we will inevitably need to do more," Mr Bailey said at a cost of living conference on Wednesday.Economic data - such as employment figures and the inflation rate - will inform the next decision on whether to keep raising rates. That decision will be announced by the Bank's monetary policy committee on 23 March.
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