The Bank of England has chosen to hold interest rates at a 15-year high as it seeks to bear down on inflation . The central bank’s Monetary Policy Committee opted for a third consecutive time to keep its base rate at 5.25 per cent, after opting to hike the cost of borrowing 14 times in a row. With inflation having been reduced from double digits to below 5 per cent – albeit still well above the government’s 2 per cent target – Threadneedle Street has once again refrained from pushing rates even higher. In a further boost to homeowners struggling with soaring mortgage costs, markets are now betting on a series of rate cuts over the…
