No Change In Base Rate.

As expected, the Bank of England today held base Rate at 5% for the fifth month in a row.

The Bank's Monetary Policy Committee has had a three way split in recent months, and it’s likely that the minutes for September’s meeting will show a similar result when published. The committee are facing a difficult decision month after month as inflation has risen steeply and the economy has ground to a halt, but there could be some good news for homeowners on the horizon.

With recession being forecast, some economists expect rates to fall later this year, despite the worries over inflation, which some experts believe could soon hit 5%.

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