The Consumer Choice Center (CCC), which champions consumer freedom and open markets, has responded to the Bank of England’s decision to maintain the base interest rate at 4%, urging policymakers to trust market dynamics rather than central intervention to deliver lasting economic stability.
The CCC acknowledges the importance of controlling inflation but warns that keeping interest rates elevated risks prolonging financial strain on households and small businesses. It argues that a return to market-driven monetary conditions would restore affordability and consumer confidence.
“The longer the Bank of England holds rates high, the harder it becomes for consumers to plan, borrow, and invest,” said Mike Salem, UK Country Associate at the Consumer Choice Center. “Monetary policy should not substitute for sound market competition. Once inflation is clearly trending down, rate reductions should follow, allowing markets, not bureaucratic caution, to determine outcomes.”
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