Good news: interest rate held at 5%
Today the Bank of England's Monetary Policy Committee voted to keep borrowing costs steady at 5%. It is reported that most economists are thinking the Bank is in a wait-and-see mode with the pound to the dollar running at a 14 year high. Economists polled by Reuters earlier this week were undecided about any movement in rates into 2007. Thirty four of the 50 polled said rates would stay the same at least until March, and 16 predicted an increase.
