Bank keeps base rate at 5.75pc

Good news for people with variable rate mortgages, who have had to cope with five rate rises in the past year, could be shortlived however as some experts predict a rise before the end of the year. The Monetary Policy Committee (MPC) had been widely expected to keep rates on hold this month, as it waits to see the impact of the rises so far. But many economists still predict that rates will go up to 6%. The rate-setters remain concerned about the rate of inflation. The Consumer Prices Index fell back to 2.4% last month, but that is still above the government's 2% target. I...