UK interest rates kept on hold

The Bank of England today gave millions of homeowners in Britain a pre-Christmas boost by keeping interest rates on hold at 4.75% for the fourth month in a row.

The latest no-change decision from the Bank’s Monetary Policy Committee (MPC) was widely expected by the City amid further signs of a slowdown in the economy.

It came after a stream of weak economic data, as well as evidence suggesting five rate rises since last November have cooled the property boom.