UK Base Rate unchanged at 5%

Today, the Bank of England left UK interest rates unchanged at 5%, following the monthly meeting of the Monetary Policy Committee.

The move was widely expected, despite consumers facing rising prices in the shops and on petrol forecourts, plus recent gloomy economic growth data. Rates were cut to 5% last month, having been as high as 5.75% at the end of last year. The next decision is scheduled for 5 June.