Bank of England
The Bank of England Monetary Policy Committee met today and have decided to maintain interest rates at 5.75%.
This follows 8 rate rises over the last 2 years.
Our view
Housing has slowed over the last few months and this will have had an influence. However, high rates are now starting to affect business, given that the pound is now so strong against other currencies, it is making it extremely expensive for people overseas to buy British goods. We do hope this is the plateau, although we do expect one more rate rise before the end of the year.