Interest rates frozen at 0.5 per cent
THE Bank of England has once again frozen interest rates at 0.5 per cent.
Monetary Policy Committee members pegged the rate after fears after inflation dropped.
The move came after it emerged that Andrew Sentance became the first policymaker to call for a rate rise in almost two years when he voted last month for a hike in rates to 0.75 per cent last time.
Consumer price inflation dropped more than expected to 3.4 per cent in May from April’s 17-month high of 3.7 per cent.