Bank holds interest rates

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The Independent Online

The Bank of England announced that interest rates will be held at 5.25%

The Bank brought forward the announcement of the Monetary Policy Committee's deliberations from tomorrow because of the general election.

The City was expecting no change because of the strength of retail sales and growth in house prices. Any reduction would also have been politically very sensitive and could have been seen as boosting Labour's 'feelgood' economic messsage.