1 week Ago
What is concerning the Bank of England right now is wage rises. (Image: Getty Images) No one will have been surprised by the Bank of England's decision to leave interest rates unchanged at 5.25 per cent this month.
Had the Bank's Monetary Policy Committee opted to cut rates, it would have caused considerable surprise in the markets - something it is reluctant to see. Interest rates were originally expected to fall this spring - until they didn't. Investors now expect the first cut to arrive in late summer at the earliest.
That will, of course, extend the pain for mortgage borrowers and businesses. The economy needs businesses to invest, which in most cases will require them to borrow. People also need to move house and to service existing mortgages.
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