Bank of England leaves rate at 4.5%

The Bank of England left its benchmark interest rate at 4.5% amid signs four increases since November are starting to cool consumer borrowing and the housing market.

All but two of 41 economists surveyed by Bloomberg on Friday forecast yesterday’s decision, with most expecting a quarter-point increase in August as faster growth threatens to stoke inflation.

The bank boosted rates in November, February, May and June.

Policymakers “have bought themselves more time to digest the results of their actions and avoid accusations of being too aggressive,” said Trevor Williams, chief economist at Lloyds TSB Group Plc.