UK Interest Rates are expected to remain unchanged this week

The Bank of England’s Monetary Policy Committee is expected to leave interest rates on hold this week, while manufacturing and services sector purchasing managers index data are likely to paint a mixed picture, economists said. The “shadow” monetary policy committee has voted 7-2 to keep bank rates on hold at 5.25% this month. A report in the Sunday Times said despite a 0.5% drop in house prices and evidence from the CBI that February was a struggle for retailers, this does not seem like a month when the Bank of England’s MPC should or will cut interest rates. The thinking is of May for the next one.