The Bank of England’s rate-setting Monetary Policy Committee (MPC) has finally called a surprise pause, holding fire with interest rates at 5.25 per cent after 14 consecutive rises.
So can borrowers breathe? Maybe. But not yet easily.
Inflation has at last started to move in the right direction, with the most recent figures showing prices rising at 6.7 per cent per year, when the Bank had expected an increase to 7.1 per cent.
