BoE holds interest rates at 4.75%

The decision has once again passed with little in the way of fanfare although some market analysts are beginning to call for a cut in the base rate to 4.5%, to help breath life into the flat retail, manufacturing and mortgage industries. One of those voices calling for a cut in rates is David Bexon, chief executive of SmartNewHomes.com, who says a decrease in the base rate will increase customer confidence and will be the catalyst to ensure positive growth in house prices ikn 2005. "The market is still suffering the hangover of the four base rate rises last year and without a downward...