The Bank rate was reduced to 5 percent from 5.5 percent at the Monetary Policy Committee (MPC) meeting held on October 24, 2017. The outlook for price stability remains positive as inflation is forecast to be within the 3 – 6 percent objective range in the medium term. Meanwhile, inflation decreased from 3.4 percent in August to 3.2 percent in September 2017.

Read Monetary Policy Committee decision statement.