THE Bank of England has held interest rates at 5.25% and indicated cuts are unlikely soon.
Governor Andrew Bailey stressed there is "still some way to go" in policymakers' efforts to get inflation down.
The Bank's Monetary Policy Committee (MPC) voted to keep the rate steady at its current level, which is a 15-year high. Three members from the nine-strong panel had called for an increase to 5.5%.
The MPC's latest report appeared cautious over the potential for cuts soon.
It stated: "The committee continues to judge that monetary policy is likely to need to be restrictive for an extended period of time."&nbsp;

INTEREST TO STICK AT 5.25%

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