The Bank Rate was maintained at 5 percent as decided at the Monetary Policy Committee (MPC) meeting held on October 22, 2018. 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 fell from 3 percent in August to 2.9 percent in September 2018, marginally below the lower bound of the objective range.

Read Monetary Policy Committee  decision statement.