The Bank Of England (BoE) have left the UK interest rate at 5%, for the fourth consecutive month.
Financial experts had predicted that there would be no change in the rate and analysts are now expecting policy makers to keep the rate steady as they battle to balance slowing growth and rising inflation.
Most predictions point to a steady rate being held for the rest of this year, with cuts next year in a bid to revive the economy once inflation falls nearer to 2% target.
Fears that the UK is heading for a full blown recession for the first time since the early nineties and that the property downturn is battering consumer confidence, were big considerations for the bank when making their decision on the interest rate.
0 comments so far
There are no comments for this post yet. Why not be the first by filling out the form below.