Bank holds rates despite calls for another cut

The vote to maintain rates as they are follows last months cut of a quarter point in interest rates largely credited with having boosted house prices in August by the Halifax yesterday. Yesterday the Organisation for Economic Cooperation and Development warned economic growth in the UK would not be as high as anticipated by the Chancellor of the Exchequer, Gordon Brown. In its forecast for UK growth the OECD said Britain’s economy would grow by 1.9% in 2005 - barely more than half the rate predicted by the Chancellor. And it said the Bank of England would have to consider lowering the ba...