No change to interest rates
Published On 8 February 2007
The Bank of England's monetary policy committee revealed today that interest rates will remain at 5.25 per cent this month.The decision, which was generally anticipated by commentators, follows a surprise quarter point hike in January, following inflation reaching three per cent in December, its highest rate for 11 years.
"The January Consumer Price Index (CPI) and the Quarterly Inflation Report will have been key factors in the monetary policy committee's decision," said Ray Boulger from John Charcol.
Neither report is currently in the public domain, making this month's rate decision slightly harder to predict than normal.
Consumers will now be able to take stock of their mortgage and saving account options as rates remain stable for the next four weeks at least.
Those thinking of taking out a mortgage will have to decide whether rates will rise much higher during the course of the year.
Interest rates have seen three quarter point hikes since August.
