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Early rates Xmas present for homeowners

Homeowners have been assured a happy Christmas by The Bank of England as base interest rate unchanged at 5.5 per cent yesterday.


But the Monetary Policy Committee has decided not to explain the freeze.


Commentators believe there is mixed motive as a stronger pound and signs of slowing demand may have persuaded the majority a rate hike was unnecessary, other could have believed a reduction could be needed to restrain inflation.


A Confederation of British Industry spokesman, said: “This is good news. Exporters may be seeing volumes pick up, but sterling remains both strong and volatile. Consumers are also being cautious.”

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