The Bank of England hesitated

According to Iran Economist and quoted by Economic, the Bank of England postponed the next meeting of its monetary policy committee for “the period of national mourning in Britain” after the death of Queen Elizabeth II for a week.

The Bank of England said in a statement: “Due to the national days of mourning now declared in the UK, the September 2022 meeting of the Monetary Policy Committee has been postponed for one week.”

The new rate decision will be announced at noon on September 22.

Experts expect interest rates to rise to 2.25 percent, which is the highest interest rate level since December 2008.

At its August policy meeting, the bank raised rates to 1.75 percent to counter rising inflation, which is currently at 10.1 percent and is expected to rise to 13 percent in October.

In its decision earlier this week, the European Central Bank raised its interest rate by 0.75 percent, citing the increase in energy and food prices related to the war in Ukraine as the reason for the sharp increase in interest rates.

The Queen of England died on Thursday at Balmoral Castle in Aberdeen, Scotland at the age of 69.