20th July 2011
According to the latest minutes of the monetary policy committee (MPC) concerns that declining consumer confidence and a lending drought will restrict growth, meaning that rates are likely to be kept on hold.
According to the minutes of the meeting the committee voted 7-2 to keep rates at 0.5%, as they did in June.
The last change in interest rates was in March 2009 when rates were reduced to 0.5 per cent, where they are now, from 1 per cent.
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