The Bank of England’s Monetary Policy Committee (MPC) will meet for the final time this year to vote on interest rates - which help dictate mortgage rates set by banks. The central bank had hiked interest rate in 14 consecutive meeting until they peaked at a 15-year high of 5.25%. Rate setters from the bank had increased borrowing costs to put pressure on consumer spending in order to bring down inflation. However, the MPC held rates in the September and November meetings after witnessing a notable cooling in the rate of inflation. The latest meeting comes after key economic data from the Office for National Statistics (ONS) shows…
