Bank votes to hold interest rates

The news will be a blow to homeowners, many of whom will face considerably higher mortgage payments in the coming months as their fixed-rate deals come to an end. Economic analysts largely expected the MPC to maintain interest rates at their current level, with many predicting a rate cut next month in time for the Christmas period. Latest inflation figures show the Consumer Prices Index, the Bank’s main measure of inflation, at 1.8%, slightly below the Treasury’s target of 2% and analysts say the MPC may wait for inflation to ease further before making a further rate cut. The Bank’s U...