Explainer: Businesses and politicians grow impatient as Bank of England holds rates steady

Businesses grappling with high borrowing costs face a longer wait for relief on sky-high interest rates after the Bank of England on Thursday held rates steady.

The move by the BoE to keep rates unchanged at 5.25 per cent was expected but has nonetheless disappointed many businesses and their representatives, even as the Bank laid the groundwork for impending cuts.

“In recent weeks we’ve seen further encouraging signs that inflation is coming down,” Andrew Bailey, ...