The Bank Rate was maintained at 5 percent as decided at the Monetary Policy Committee (MPC) meeting held on December 4, 2018.  The outlook for price stability remains positive as inflation is forecast to remain within the Bank’s 3 – 6 percent objective range in the medium term.  Inflation increased from 2.9 percent in September to 3.6 percent in October 2018 and is expected to edge up slightly in the short term, mainly driven by the increase in domestic fuel prices.

 Read Monetary Policy Committee decision statement.