Inflation begins to bite
On Thursday the Bank of England (BOE) rate committee met to discuss interest rates, and, even though inflation is growing, yet again they have decided to leave the base rate at 0.25%. They obviously feel this is the best option as they assess the extent of any consumer slowdown and while they continue to play the waiting game regarding how the EU Brexit divorce negotiations pan out. The BOE seems to be playing a deliberate wait and see game, and with economic news continuing to be negative in the last few weeks, it now seems likely that the base rate could stay at this level until at least 2019.