The Bank of England has left the base rate unchanged at 4.5% today following a meeting of the Monetary Policy Committee.
The decision comes amidst signs the UK's love affair with remortgaging has cooled and rising rates have started having an impact on consumption.
However, most economists still expect another 0.25% increase in the base rate by August as recovering manufacturing and services continue to drive the economy towards lower spare capacity even as commodities prices, particularly energy, remain high.
Minutes of the MPC meeting will be published on 21 July.IFAonline
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