Bank keeps interest rates on hold

The Bank of England's rate-setting Monetary Policy Committee (MPC) has decided to keep interest rates on hold at 5.25%.

The decision was in line with analyst and market expectations.

Analysts have highlighted that the Bank faces the threat of a slowing economy at a time when inflationary pressures are rising.

In February, the bank cut rates by a quarter of a percentage point from 5.5%, amid signs of a slowdown

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So holding of interest rates can be a good thing. They are definitely not increasing which is a good thing.

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House prices continuing to slow

House prices are continuing to slow down, says the Halifax, the UK's biggest mortgage lender.

According to its latest monthly survey, prices across the UK fell by 0.3% in February, taking the annual rate of inflation down from 4.5% to 4.2%.

That means the average UK home now costs £196,649, according to the lender's calculations.

The Halifax said prices would be flat over the coming year if the economy and employment continued to grow.

"House prices fell by 0.3% in February. Prices in the three months to February, however, were marginally (0.2%) higher than in the previous quarter," said Martin Ellis, the Halifax's chief economist.

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So the oil prices are at an all time high, the American dollar value is continuing to fall, but if you are looking to buy a house in the UK now is the time. The Home prices are continuing to fall

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