BoE holds rates at 5.5%

The last change in interest rates occurred last month when the MPC voted unanimously to increase the rate by 0.25% to 5.5% on inflation concerns. This was the highest level since 2001, although some members last month argued the increase should have been higher at 0.5%. However, this month the MPC has chosen to keep interest rates level, despite yesterday’s decision by the European Central Bank (ECB) to increase rates for the Eurozone by 0.25% to 4%. The increase takes rates in the Eurozone to their highest level since August 2001, and means they have doubled in 18 months. Analysts...