The Bank of England’s Monetary Policy Committee has decided to leave rates on hold for another month.
The current interest rate is 4.75 per cent.
The Derbyshire head of intermediary support Tony Capon: “The logic behind leaving rates on hold is that the MPC is seeing continued evidence of a slowdown in both industrial and retail economic data. This coupled with signs of a lack of global growth, has meant that the MPC have chosen to ignore the recent (largely oil driven) spike in inflation. In all probability rates will not rise again above the current 4.75 per cent, although one last rise of 0.25 per cent to 5 per cent is still theoretically possible.”