Interest Rates Frozen

March 2008 has seen the Bank of England hold interest rates at 5.25% in an expected move. Many thought it was unlikely that rates would be cut again following a drop already in 2008 of 0.25%.

It is likely that the Bank of England will want to see the effects, if any, of their previous reduction before making another. However, it could be as early as April or May when we see another reduction of 0.25% to take the rate down to 5%.