Despite predictions that the Bank Of England base rate would increase by a further 0.25% this month, it has been left unchanged at 0.5%. This is a welcome relief to those looking to secure a mortgage or re-mortgage in the next few months, as competitive rates will likely remain.

The decision cited for this unexpected move is the slow down in economic growth at the beginning of the year, and the Bank Of England doesn't believe the UK economy is strong enough to handle an increase.

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