The Bank of England's Monetary Policy Committee (MPC) has once again decided the best course of action is to leave well enough alone and frozen interest rates at 4.75% for the ninth month in a row.
The move has been widely expected despite rising oil prices and a slight increase in unemployment figures. These inflationary pressures have been offset by, among others, the housing industry which said earlier this week that mortgage lending was at its highest level in two years in March. Mehrdad Yousefi, head of intermediary mortgages at Alliance & Leicester, says: "It is no surprise that the MPC has left the rate unchanged yet again - especially as we have seen robust economic and housing data in the past few weeks. The UK Purchasing Managers' and CML mortgage lending figures have both ...
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