“The Bank has made the right decision today. The four rises last year had a rapid effect on the market and well and truly put the brake on rising house prices. Prices are now stable across the country with some areas seeing a drop in values and a further rise could have been the catalyst to a serious downturn in the market.
“However despite today’s decision, the threat of rates rising lingers and, after the election next month, the MPC may feel it is the right time to inflict an increase. This could be the final straw for many homeowners and consumers who are already nervous, as reflected in their reluctance to commit to sales in the housing market and reduced spending on the high street.”
