Members of the Monetary Policy Committee (MPC) voted seven to two to hold rates at 0.75%, despite recent speculation that a cut was on its way. What it means for you(Image: Moment RF)The Bank's decision to hold interest rates remains good news for homeowners and those looking to get on the property ladder right now. "The decision to hold rates doesn't mean savers should breathe a sigh of relief and stay put," Sarah Coles, personal finance analyst at Hargreaves Lansdown said. Over the last six months, they've become more convinced the Bank of England will keep rates low for years, so they've cut rates across the board. "And while it's impossible to predict what will happen next for interest rates, significant rises would come as a real surprise.

Source: Daily Mirror January 30, 2020 12:11 UTC