Interest rate stays at 5.5%

In an article from Finance Locator:

The heads that be at the Bank of England have decided to keep the current base interest rate as it as, so it remains unchanged at 5.5% for the next month at least.

Despite poor Christmas sales being reported by retailers, the Bank of England are keeping the base rate at 5.5% for now.

A reduction would have increased confidence in the public and businesses in general, however there is also a worry over inflation as fuel and energy prices begin to rise.

The next decision will be in early February with the distinct possibility of a drop in rates by 0.25% or even as much as 0.5% depending on how the UK economy bears up over the next few weeks.

Read the article No Change For Interest Rates at FinanceLocator.co.uk