Bank of England hold at 4.75%

Story link: Bank of England hold at 4.75%

The Bank of England continued to hold interest rates at the current level of 4.75%.

With mixed news from the UK economy, and with a possible election looming, there was little expectation of changes at this session.

However, despite poor seasonal retail sales and slowed consumer spending, some building societies are already reporting house price rises for January. Coupled with a strong manufacturing sector, plus a suddent rise in inflation to 1.6%, the likelihook remains of interest rate rises later in the year.