The Bank of England voted on Thursday to keep its benchmark interest rates on hold at 5.50%. 'The recent fall in inflation has not been as dramatic as hoped, but other indicators of a cooling economy have provided enough evidence for the Bank to hold fire on raising interest rates. Although the economy keeps growing at a reasonable pace (at around 2.8% so far this year) there is evidence that the housing market is slowing and retail sales are moderating. Growth is instead coming from financial sector expansion', Tony McGough, Head of Forecasting and the Economy at Jones Lang LaSalle (JLL) commented.
Premium subscriber content – please log in to read more or take a free trial.
