6
Mar
MPC holds interest rates
The Bank of England's monetary policy committee (MPC) has held the
base rate of interest at 5.25 per cent, something that may interest
those with mortgages.
Inflation pressures, from energy and food prices, had to be
balanced against the prediction of weaker economic growth, reports
the Guardian.
The British Chambers of Commerce claimed that the bank has missed a
good opportunity to cut rates now.
Economic advisor at the BCC David Kern noted that the decision is
not a surprise, but that more could be done at this stage.
"The MPC has missed an important opportunity to underpin business
and consumer confidence, and limit the potential damage to the
economy," he told the publication.
He added that immediate action is needed to alleviate the danger of
an economic slowdown.
In Febraury, the bank cut rates from 5.5 per cent to 5.25 per cent,
while December saw another dip in rates.