Interest rates kept on hold for May
The Bank of England today decided to hold interest rates at their record low of 0.5 per cent for another month.
Its Monetary Policy Committee (MPC) has also kept the Bank’s bond-buying economic stimulus programme at £375bn.
The Bank has kept rates low for five years now amid fears that a rise would throw some businesses and homeowners into jeopardy, but also to avoid putting the brakes on the economic recovery.
Ian Lee, one of our directors and a former chairman of Portsmouth Property Association, said: “The Bank of England clearly recognises the importance of stability as the economy rallies.
“We welcome the Bank’s decision, which will allow businesses to plan ahead and invest in the future but will also support the strengthening property market.”
Experts are divided over when we will see interest rates go up. Some believe that the improving economy and rising house prices will mean a rise at the end of this year, while others are pointing to next February or Spring.
You can read more in a special BBC report: http://www.bbc.co.uk/news/business-27326739
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The Bank of England today decided to hold interest rates at their record low of 0.5 per cent for another…