“The decision to keep interest rates on hold will be a palpable letdown to those households looking for relief from high mortgage bills and businesses preparing for April’s major jump in business costs, including the national insurance hike.
“While the vote to ‘hold’ was emphatic, there was enough in the meeting minutes to suggest that rate setters remain concerned over the health of the economy, keeping the door wide open for a May interest rate cut.
“With inflation set to rise further and international headwinds growing, the path to materially lower interest rates remains filled with uncertainty. As such, rate setters will probably continue to maintain their slow and steady approach to loosening policy.”
ENDS
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