Rate freeze welcomed
The Bank of England's decision to leave interest rates on hold has been widely welcomed by business groups.
The Bank's Monetary Policy Committee (MPC) yesterday (Thursday) announced that rates would remain at 5.75%.
The Confederation of British Industry (CBI) said the effects of the five rate rises over the last year have only recently started to show and will take more time to fully play out.
The British Retail Consortium (BRC) welcomed the decision but said it was time for a prolonged freeze after the series of rises in recent months.
The British Chambers of Commerce (BCC) said it would have been "inconceivable" to raise rates again while many businesses are recovering from the recent flooding.
