No change from the BoE
The Bank of England has kept the base rate at 5%, for the fifth month running.
No change was expected - and that's exactly what happened as the Bank of England (BoE) held the interest rates at 5% for the fifth consecutive month.
There were hopes - especially from the property sector - that a sluggish housing market and the looming threat of a recession would have forced the hand of the Monetary Policy Committee (MPC) to cut rates.
The BoE has predicted rates will remain at 5% over the coming months, as it continues to balance risks to growth and inflation.
Previously, when the MPC met in July, only one member, David Blanchflower, voted for a rate cut.
The European Central Bank also decided today to hold their rates for the euro at 4.25% |
