Bank set to keep UK rates on hold
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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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The Bank of England&#39;s rate-setting Monetary Policy Committee voted unanimously to leave its key base rate unchanged at 4.75pc at its last meeting on Oct 7, the central bank said today.
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The Bank of England should leave interest rates on hold until next year to give consumers a breathing space in the run-up to the crucial Christmas trading period, the CBI said yesterday.
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The Bank of England left its key interest rate unchanged at 4.75 percent Thursday.
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Despite signs of a poor Christmas for British retailers, the Bank of England will likely refrain on Thursday from cutting interest rates from the current level of 4.75 percent, analysts said.
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The Bank of England held interest rates steady at 5.5 percent on Thursday, resisting calls for a cut amid mounting signs of a slowing domestic economy.
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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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Business groups have broadly welcomed the Bank of England&#39;s decision to keep interest rates on hold this month. The Monetary Policy Committee (MPC) announced at lunchtime on Thursday that they would be maintaining the base rate at 4.75 per cent.
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It was the second month in a row that the bank&#39;s Monetary Policy Committee has frozen the rate. The decision was widely expected following data that showed Britain&#39;s manufacturing sector slowing down and a cooling of the housing market.
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The pound held firm against the dollar and euro after a string of recent economic data continued to suggest that the Bank of England (BoE) will be forced to raise interest rates in the coming months to keep a stranglehold on inflation.
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The Bank of England announced it was leaving interest rates unchanged at 4.75 percent for a fourth successive month amid continued signs of cooling in the British economy.
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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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Bank of England policymakers did not even discuss raising interest rates earlier this month, raising the probability that borrowing costs will remain on
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LONDON : The Bank of England announced it was leaving interest rates unchanged at 4.75 percent for a second successive month, amid signs that Britain&#39;s red-hot housing market is cooling slightly.
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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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The Bank of England votes to leave rates unchanged at 5.25% after its two-day meeting.
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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.