No change in interest rates for March 2008
06 March 2008
Bank of England base rate kept at 5.25%
The Bank of England’s Monetary Policy Committee (MPC) has today decided to keep interest rates at 5.25%.
This outcome was not unexpected.
Last month, the MPC reduced the base rate by 0.25%, taking it from 5.5% to 5.25%.
Further cuts in the base rate are expected in the up and coming months by many economists.
David Kern, economic adviser to the British Chambers of Commerce, said: “The decision is not surprising, but we believe the decision is mistaken given the worsening international and domestic situation.”
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