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Bank of England keeps interest rates on hold at 0.1%

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© Licensed to London News Pictures. 04/11/2021. London, UK. A couple look at the properties for sale displayed in an estate agent’s office window.
The Bank of England has left interest rates at their record low level of 0.1%, despite forecasting a jump in inflation to 5% by next spring. This is after major lenders began pulling their cheapest mortgage deals in anticipation of a rise last month. House prices have risen almost 10 per cent in the year to October 2021. According to Nationwide, the average cost of a home in the UK is above £250,000 - the first time it has risen to over the quarter of a million pound mark. Photo credit: Dinendra Haria/LNP

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© Licensed to London News Pictures. 04/11/2021. London, UK. A couple look at the properties for sale displayed in an estate agent’s office window.<br />
The Bank of England has left interest rates at their record low level of 0.1%, despite forecasting a jump in inflation to 5% by next spring. This is after major lenders began pulling their cheapest mortgage deals in anticipation of a rise last month. House prices have risen almost 10 per cent in the year to October 2021. According to Nationwide, the average cost of a home in the UK is above £250,000 - the first time it has risen to over the quarter of a million pound mark. Photo credit: Dinendra Haria/LNP