Band Of England holds again. At their last meeting the MPC had looked at issues such as financial market developments, credit, the world economy and the labour market before making a decision on interest rates. It also saw a unanimous vote by the committee to hold the bank base rate at 4.5%, after a quarter point reduction to the rate at August's meeting. Previously, the base rate was held at 4.75% for 11 consecutive months. Today, the Monetary Policy Committee held the same view and froze rates.
Our view
Widely predicted by most pundits.