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 Bank of England holds interest rates

 

Thursday, July 07, 2005


The Bank of England left interest rates unchanged at 4.75% today after its two-day Monetary Policy Committee (MPC) meeting.

Pressure had been mounting to cut rates particularly from housing industry commentators and business leaders such as the CBI.

About 1 on 3 economists had expected a cut this month with most being concerned that an early cut could backfire if the pound weakens further.

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

 
 
     
     
 

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