The Bank of England have held interest rates at 5.25 per cent remaining at their highest level for ten years
Seven people on the monetary committee voted to keep them at the same level while two voted for a reduction
Making the announcement the bank said that the risks from inflation were receding and was optimistic that t hi bags were moving in the right direction with inflation set to fall to its 2 per cent target in the next few months
The Bank also said it expects the UK economy to grow by 0.5 per cent this year and 1 per cent in 2025, slightly higher than previous predictions
