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 Bank holds rates steady

 

Thursday, January 13, 2005


Businesses and homeowners got another respite from higher borrowing costs when the Bank of England announced its decision on interest rates at midday today.

In widely predicted action, the Bank's Monetary Policy Committee decided to hold the bank rate at 4.75% for another month.

The most recent change in interest rates was an increase of 0.25 percentage points to 4.75% on 5th August 2004.

Many analysts think rates have reached their peak after five rises since November 2003 - and housing industry specialists have already called for a lowering of rates. Some even predicted today would be the first step. The focus is now on whether there will be a reduction next month.

 
 
     
     
 

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