Bank of England hold Interest Rates

Interest Rates have been held at 5.0% by the Bank of England - disappointing for borrowers - pleasing for savers.

In an expected mover by the Bank of England rates have stayed steady at 5%. The Bank of England could have taken the dramatic steps that the US Federal Reserve took a few months ago but our own head bank has resisted this temptation.

It is still expected that rates will drop by another 0.25% next month as not only the UK Economy but the World Economy attempts to turn around the gloomy state it is currently in.