Bank of England keeps interest rates steady in September.

The Bank of England has, off the back of the surprise reduction in UK inflation, decided to not raise rates in the UK at their September meeting. The market was largely expecting the central bank to raise rates by another 0.25% to take the rate to 5.5%. This move has been taken as a sign the UK is at or near the top of its interest rate hiking cycle which will come as a relief to many. The market battle will now be to gauge how long the rate stays this high before they start to come back down again.