Interest Rates Held July 10th, 2008

As expected, the Bank of England’s Monetary Policy Committee have kept interest rates on hold at 5%. With inflation at 3.3% against a target of 2% this was the only decision the MPC were likely to take, despite incresing economic concerns and fears that the UK could be entering a recession. If there are further signs of a downturn, the Bank must be prepared to act quickly and cut rates.

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One Response to “Interest Rates Held”

  1. bullmarkit.com Says:
    July 11th, 2008 at 1:29 am

    Interest Rates Held…

    The UK hold interest rates at 5% despite growing concerns of an economic slowdown….

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