Interest rates held for third month

By FWi staff

THE Bank of Englands Monetary Policy Committee announced today (04 May) that interest rates are to remain unchanged for the third month in succession.

Despite expectations of a 0.25% rise to dampen house price inflation, interest rates remain fixed at 6%.

The MPC had been pressed by the manufacturing industry to refrain from further rate rises that would damage the industry, by fuelling the strength of the Pound.

“We are extremely relieved that rates have not gone up,” said an NFU spokesman.

“Farmers will be thankful that no additional burden has been put on incomes and the farm business as a whole.”

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