Bad News for Homeowners as Rate Remain Unchanged
The Bank of England today left interest rates unchanged at 5.25% held back by fears or rising inflationary pressure.The BoE is expecting inflation to rise to 3% with rises in commodity prices and so has held rates constant.
Most economists do expect further rate cuts this year. Roger Bootle warned that whilst rates will be cut further, the delay in cutting them is likely make any economic downturn worse.
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