BoE holds interest rate at 6%

The Bank of England has kept its key lending rate unchanged at 6 per cent for the sixth month in a row. The committee last raised the base rate in February from its previous level of 5.75 per cent.

The Bank of England has kept its key lending rate unchanged at 6 per cent for the sixth month in a row. The committee last raised the base rate in February from its previous level of 5.75 per cent.

Analysts suggested that a slowdown in the property market, and a consequent easing of concerns about inflation, may have influenced the committee's decision.

Manufacturers and exporters feared a rate hike would cause the pound to strengthen and make British goods less competitive against products from other countries.