The Bank of England has opted once again to hold the base rate at 5.25 per cent, a move which will reinforce the view we’ve reached the peak for interest rates.
The decision marks its second pause after the Monetary Policy Committee voted to hold the base rate in September. Prior to that, there had been 14 consecutive base rate hikes since December 2021.
The announcement will be met with a degree of relief among borrowers and disappointment among savers.