November interest rates stay put
Friday, 9th November 2007The Bank of England have decided yet again to keep its base rate at 5.75 this month. This has been the fourth month in a row without a change in the interest rate.
Some analysts in the run-up to the Bank’s announcement, had begun to consider that the Bank’s Monetary Policy Committee (MPC) would surprise by announcing a rate cut.
Recent data had suggested certain parts of the UK economy were struggling. Figures from the British Retail Consortium this week showed consumer spending in October was its lowest for a year, definite signs of a slowing economy.