Bank of England votes to keep rates on hold ….again

The UK Bank of England have taken the decision to keep rates on hold at the 5.25% level. This is the second meeting of the committee in which they have chosen not to increase the rate which has been well received by the bond market which has rallied on the news. Whilst a pause is not a cut in rates there is now speculation building that the next move from the bank will be to start cutting interest rates but that’s not going to happen for a while yet or if the UK economy suddenly falls into a recession.