Posted by
Jonathan Peace at 13:34 on 06 Mar 2008
After speculation of a further 0.25% cut in interest rates, the The Bank of England's rate-setting Monetary Policy Committee (MPC) has decided to keep interest rates on hold at 5.25%. The news comes on the back of a report by Nationwide Building Society which showed a fourth consecutive month of decline for house prices and a sharper than expected 0.5% decrease in average house prices for February.
Industry experts are expecting further rate cuts before the end of the year, with many expecting a fall to 5.0% in May 2008.