Base rate maintained at 5.25%
The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves at 5.25%. Nicholas Leeming, director of propertyfinder.com commented:
Home buyers will be breathing a huge sigh of relief today. Confidence in the housing market is still relatively strong, but there are already signs of a slowdown. After three rises since the summer, buyers are increasingly sensitive to interest rates. Furthermore the coming introduction of HIPs may cause some disruption to the market, and a further hike today would have been ill timed to say the least.
