Thursday, May 8, 2008
BOE elects to hold UK interest rates
UK interest rates have been held at 5% by the Bank of England's Monetary Policy Committee (MPC). The move was widely expected, although many analysts now predict that rates will be cut to 4.75% in June. The MPC's decision came despite a flurry of downbeat data this week which has added to worries about the state of the UK economy amid a global slowdown.