Interest rates set to stay on hold this week

Governor Mark Carney last week said he is still ‘comfortable' with rates at a record low of 0.5% - setting the scene for another ‘no change' decision when the monetary policy committee votes on Thursday, the Daily Mail reports. But with the economy growing at its fastest pace for nearly seven years, and unemployment down from 7.9% to 6.9% in the past 12 months, pressure is mounting on the Bank to act. Soaring house prices have also set alarm bells ringing on Threadneedle Street, although officials have hinted that tougher rules on mortgage lending, rather than higher interest rates, w...