UK rates held at record lows
THE UK’S rate-setters yesterday decided against moving rates up or down from the 0.5 per cent rate where they have sat since 2009.
“At a time when inflation is falling and may temporarily enter negative territory, there is no strong argument for considering higher rates. Although wages are now rising, the scale of this increase is unlikely to create higher inflation in the foreseeable future,” said David Kern, chief economist at the British Chambers of Commerce.