Bank of England keeps interest rates the same because of unsure economy.
Reading
The Bank of England decided to keep interest rates the same. This is because they are worried that lower rates could make prices go up even more.
Even though rates stayed the same, some people think they might go down in February. This is because three members of the committee wanted to lower rates now.
People in the UK are hoping rates go down because it would make it cheaper to borrow money. This could help people who are struggling with high costs.
The bank's decision comes after the US also decided to keep rates the same. Both countries are worried about prices going up too fast.
Prices are still going up, but not as fast as they were a few years ago. The bank thinks it's unlikely that rates will go back to the very low levels we saw before.
Questions
Why did the Bank of England keep interest rates the same?
They are worried that lower rates could make prices go up even more.
What do some people think might happen to interest rates in February?
Some people think they might go down because three members of the committee wanted to lower rates now.
Why do people in the UK hope interest rates go down?
It would make it cheaper to borrow money, which could help people who are struggling with high costs.
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