Interest Rates Stay at 5.75%
Small Business News – 8 th November 2007
The Bank of England’s Monetary Policy Committee has kept interest rates at 5.75%.
This is the fourth month in a row that UK interest rates have remained the same since the last increase in July 2007 when the rate rose by one quarter of a percent from 5.5% to 5.75%.
With inflation currently at 1.8%, below the 2% target, and oil prices close to $100 a barrel, the MPC thought it wise not to drop interest rates in the wake of an uncertain economic outlook.
The next interest rate decision will be announced on December 6th.