The Bank of England’s Monetary Committee has voted 7-2 again to keep UK interest rates at 5.25, a move expected by the markets despite the news yesterday on inflation
The rate of inflation dropped to 2% in May – down from 2.3% in April and ending a three-year battle to return price rises to target levels.
The rates remain at their highest level for sixteen years and are now unlikely to be cut until August at the earliest
