Britain's economic recovery plans take a hit as Bank of England holds base rate
The Bank of England in the City of London
LABOUR’S economic recovery plans have been dealt a blow by the Bank of England holding rates at 4.75 per cent, experts said today.
The TUC and Institute for Public Policy Research (IPPR) had called for a third cut to rates this year arguing Britain’s low growth showed the need for greater investment into the economy.
The Bank however kept the base rate on hold a day after data showed inflation had crept up for the second consecutive month to 2.6 per cent in November.
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