Belfast Telegraph

Interest rates left on hold at 0.5%

By John-Paul Ford Rojas

Interest rates have been left on hold at 0.5% as policy-makers met for the first time since Bank of England governor Mark Carney warned that they could rise sooner than markets had thought.

The warning in the governor's annual Mansion House speech last month saw some analysts bring forward expectations of a rate hike to as early as this year.

Minutes from recent meetings of the monetary policy committee (MPC) have indicated its members' views were becoming more balanced after five years in which rates have been held at the historic low. They revealed that MPC members found it "somewhat surprising" that markets thought there was only a low probability of a hike this year.

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