Rate freeze hurts homeowners over mortgages
Today 8:01 AM|Telegraph Business
Hard-pressed homeowners hoping for the cost of their mortgage repayments to fall in the New Year have been dealt a blow following the Bank of England's decision the leave rates unchanged at 5.5 per cent.
- The blow comes just days after it emerged that several lenders have still to pass on December's rate cut to its variable rate mortgages.
Interest rates held at 5.5pc by Bank of England
Today 8:00 AM|Telegraph Business
The Bank of England has resisted growing pressure to cut interest rates for the second time in as many months as it awaits further evidence that the UK economy is slowing.
Several reasons are provided
- money markets have recovered significantly in the past few weeks
- higher energy prices are now a major threat to inflation
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