The Bank of England's Monetary Policy Committee (MPC) has voted to keep interest rates on hold at 5%.
Annual inflation measured by the CPI rose to 4.4% in July, up from 3.8% in June, according to the Office of National Statistics.
The Bank of England's Monetary Policy Committee (MPC) has voted to keep interest rates steady at 5%.
Northern Rock has made a £585m loss in the first six months of 2008 following a sharp rise in arrears.
The Bank of England's Monetary Policy Committee (MPC) broadly agreed to keep interest rates on hold at 5% this month.
Mervyn King has told MPs he would have liked the ability to trigger the special resolution regime to rescue the failing Northern Rock.
The Consumer Price Index (CPI) reached a ten-year high of 3.8% in June from 3.3% in May, according to the Office for National Statistics.
The Bank of England's Monetary Policy Committee (MPC) has voted to keep rates on hold at 5%.
Borrowers are increasingly moving towards long-term fixed rate deals as two-year fixed rates top 7%, according to Spicerhaart Financial Services.
The amount of money raised through mortgage equity withdrawal (MEW) has fallen, according to the Bank of England.