Interest rates were kept on hold again by the Bank of England today, delivering relief for homeowners and businesses.
The Bank's rate-setting Monetary Policy Committee (MPC) pegged the base rate at 0.5% for the 26th month running despite inflation staying stubbornly at twice its targetted level.
Economists had expected the MPC to raise rates this month to quell inflationary pressures but a recent spate of poor economic figures mean they faced a risk of pushing the economy back into recession.
Analysts now believe the first interest rate rise could be in August, with some claiming the MPC may be forced by a flagging economy to wait until early next year to make a move.
