Interest rates held at 0.25%

THE Bank of England has frozen interest rates at 0.25% once again at the central bank’s last meeting.

Though there has been a surprising level of economic resilience since the decision to leave the European Union in June, the pound faced new pressure after the US Federal Reserve increased interest rates yesterday.

The pound has been unable to recover in world currency markets since the referendum, driving import prices up.

In the balancing act that the Bank of England has maintained since the vote, it chose to maintain interest rates at 0.25% last month, but it is unclear whether the next move in rates will be up or down in coming sessions, holding on to its ‘neutral bias’ stance.