The Bank of England voted to keep interest rates at 5.75 per cent yesterday, following a meeting of its monetary policy committee (MPC).
According to the MPC, there are “signs of a slowdown in consumer spending”, which was one of the factors that influenced the decision.
Economists at Bloomberg have also suggested that the MPC is being cautious in the wake of the US subprime
An Alliance & Leicester spokesman explained the implications of the decision for
“For borrowers needing financial security and the ability to budget for their outgoings, a fixed rate
He added: “However, for borrowers who are financially flexible, tracker
Yesterday, Nationwide warned that thousands of householders are heading for a “rate shock” when their fixed-rate terms expire in the coming months.
Borrowers who took out a fixed-rate
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