09 July 1998
Interest rates remain unchanged
By FWi staff
THE Bank of England has decided against increasing interest rates, it was announced at mid-day today (Thursday).
The cost of borrowing remains pegged at 7.5% following the monthly meeting of Banks Monetary Policy Commitee meeting.
The bank caused consternation among businesses and home-owners last month when it raised rates by 0.5%.
The Labour government has increased interest rates six times it started office in May last year.