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Bank of England: interest rates frozen… as expected

Any hopes of a pre-Christmas interest rate cut have been dashed following the MCP’s announcement that the base rate would remain at 4.5 percent.

“A resilient property market, strong mortgage lending figures for the last three months and better than expected retail figures could have been a strong influence, but Christmas figures will be a pointer for January and February” commented Todd Lewis of Suffolk estate agents BYchoice also adding “early New Year would seem the ideal time to cut base rates, the minutes of this meeting will published in a fortnight and could provide a clue.”

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