The prime lending rate will remain at 4.5% for the ninth month in a row
following the latest meeting of the Bank’s Monetary Policy Committee (MPC).
The move was widely expected by analysts who still expect an increase at some
point soon on the back of a strong UK housing market and manufacturing showing
signs of recovery.
At the MPC meeting, the vote was 7-1 in favour of keeping rates at 4.5%, with
the exception of Stephen Nickell, professor of economics at the London School of
Economics, who voted for a rate cut.
Roger Bootle, economic adviser to Deloitte, said the rate decision would
‘prompt most people to think that the next move in interest rates will be
upwards’, but also said there was still a chance of a cut.
Legislation on the NICs changes to be brought forward in the autumn following publication of 'the full effects of the changes to Class 2 and Class 4' in the summer
The SME community voices concern about the chancellor's measures in the Spring Budget
Following chancellor Philip Hammond’s Spring Budget speech, we explore the key takeaways for businesses and individuals
One of the bigger announcements of the final Spring Budget is the raising of Class 4 NICs for the self-employed