UK still borrows most in Europe
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UK consumers are still borrowing more money than citizens of any other European country, a report says.
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UK interest rates have been kept on hold at 5% following the latest meeting of the Bank of England.
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The Governing Council of the European Central Bank decided to keep the interest rates at 2 % on Thursday. The same day, the Bank of England also announced the decision to keep its key rate unchanged at 4.75%.
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The Bank of England left the cost of borrowing unchanged at 4.75 per cent on Thursday after data had shown a slowdown in the housing market, slowing consumer
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The pound bounced back in afternoon trade but remained near seven-month lows against the euro after an extremely dovish set of minutes from the last meeting of the Bank of England's rate-setting body cemented expectations that the UK's cost of borrowing is at, or near, its peak.
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The European Central Bank keeps the cost of borrowing unchanged at 2% for the 18th straight month, despite the risk posed by the soaring euro.
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The pound was solid against the euro despite mounting concerns about the state of Britain's public finances.
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UK interest rates are set to remain on hold at 5% following the Bank of England's latest meeting.
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Britain is still the favourite European destination for foreign investment projects, a report says.
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European issuance of securitised bonds is expected to reach a new record this year, although this will depend on the continuing health of the UK housing market, the European Securitisation Forum said in its annual survey.
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FRANKFURT, Germany -- The European Central Bank held its key interest rate steady at 4 percent while the Bank of England cut its benchmark rate by a quarter percentage point to 5.25 percent on Thursday.
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British interest rates stayed at 4.75  percent for the fourth month running on Thursday, but  economists are split over whether the Bank of England will  raise borrowing costs again next year.
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The European Central Bank held its key interest rate steady at 4 percent while the Bank of England cut its benchmark rate by a quarter percentage point to 5.25 percent.
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The European Central Bank (ECB) will keep borrowing costs at a six-decade low for an 18th month as a surge in oil costs curbs economic growth in the dozen nations sharing the euro, a survey of economists showed.
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The Bank of England (BoE) has kept its key interest rate at a five-year high of 5.00 percent, opting against a third rise during 2006.
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The European Central Bank keeps interest rates in the eurozone at their current level of 4%.
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The Bank of England decides to keep UK interest rates unchanged at 5.75% this month.