BANK of England Governor Andrew Bailey says "things are moving in the right direction" but the base rate was yesterday held at a 16-year high of 5.25%.
None of the Bank Monetary Policy Committee's nine members voted for a rate rise. The clearest sign yet that a cut is coming.
But this will be little comfort for the millions of mortgage borrowers who have, or are about to, come off cheap fixed-rate deals and are facing a financial hammering.
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