Interest rates stay put

The Bank of England’s Monetary Policy Committee has voted to keep interest rates at 5.75% for a second consecutive month.

TUC head of economics Adam Lent said it was “the correct decision”, pointing out that inflation was low and that it was thought that the full effects of five rate rises have yet to be felt. “Rates must now hold for a while and the next move, when the time is right, should be downwards, not upwards,” he added.