Bank set to keep UK rates on hold
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The Bank of England is set to keep interest rates on hold following the latest meeting of the its Monetary Policy Committee.
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The Bank of England held its benchmark interest rate steady at a six-year high of 5.5 percent after reports that price inflation is slowing in the services and housing sectors. The bank raised rates last month after three other rises since August apparently failed to cool inflationary pressures and a buoyant housing market. Even after the European Central Bank raised rates Wednesday by a quarter-point, to 4 percent, Britainâs rates remain the highest among the worldâs seven wealthiest nations. Most economists expect a rise of a quarter of a percentage point next month in British rates. as the Bank of England tries to bring consumer price index inflation back to its 2 percent target from its current level of 2.8 percent.
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British interest rates were kept at 4.75% today amid signs that five rises over the last year had finally put the brakes on house prices and consumer spending.
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UK interest rates are kept on hold at 4.75% by the Bank of England's Monetary Policy Committee amid signs of a slowing economy.
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The Bank of England left its key interest rate unchanged at 4.75 percent Thursday.
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Economists are unanimous that the Reserve Bank will leave interest rates on hold this week, but will be looking eagerly for clues on what comes next.
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The European Central Bank keeps its key interest rate on hold at 3.5%, but hints that it may go up next month.
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UK interest rates are expected to remain on hold at 4.75% following the Bank of England's latest rate-setting meeting.
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The Bank of England holds UK interest rates at 5.5%, but analysts say a rate rise later this year remains likely.
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The Bank of England decides to keep UK interest rates unchanged at 5.75% this month.
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The Bank of England left interest rates  unchanged on Thursday, following a week of intense speculation  over whether it would cut them for a second month running to  shore up economic growth.
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The Bank of England has declared there will be no change to UK interest rates which are to hold at 4.75 per cent, as widely expected by most UK economists.
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Despite signs of a poor Christmas for British retailers, the Bank of England (BoE) will likely refrain on Thursday from cutting interest rates from the current level of 4.75 percent.
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The Bank of England has decided that interest rates will stay the same despite a consumer slow-down. Your views?
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It was the third month in a row that the bank&#39;s Monetary Policy Committee has frozen the rate. The decision was widely expected following indications that Britain&#39;s economy has slowed.
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UK interest rates will most likely be kept on hold on Thursday, but analysts say it will be a very close decision.
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The Bank of England held its key interest rate at 4.75 percent, opting against a further rise after last month's surprise quarter-point increase, the central bank announced.