Bank Base Rate.

As widely expected, the Bank of England held interest rates at 5% today, as they juggled concerns over rising inflation and a slowing economy.

With inflation at 3.3%, and expected to rise further before peaking in the autumn, it seems that this again has been the dominant factor in the Monetary Policy Committee’s decision, as they try to push it towards the Governments target of 2%.

While only a few months ago further cuts in interest rates were being forecast for 2008, some forecasters currently think it unlikely before the end of the year.

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