Bank of England maintains base rate
The Bank of England has voted to maintain the base rate of interest, it has emerged.
Thursday 2nd August 2007
Interest rates are to stay at a value of 5.75 per cent, it has been announced.
The Bank of Englands monetary policy committee made the decision in its August meeting today.
It has previously been warned that with five interest rate hikes since August 2006, consumer confidence is beginning to dip.
CreditExpert, part of the Experian credit report agency, detected a "crash" in confidence among Londoners during the second quarter of 2007.
Managing director Jim Hodgkins said: "Although national financial confidence has not quite hit an all-time low, were seeing great regional fluctuation quarter on quarter and, in London, the worst regional figure ever recorded."
His comments were reflected by the British Retail Consortium, which argued there was "simply no case for another increase in interest rates this month".
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