The benchmark cost of borrowing in the UK is staying at a 16-year peak, at least for now, after the Bank of England kept interest rates on hold at 5.25%.
The nine-member monetary policy committee was expected to leave interest rates on hold in its decision, announced at midday. Only one member of it voted against keeping rates steady and called instead for a cut to 5%. Last time, there were two members who thought rates should rise and one who backed a cut.
