Interest Rates Stay at 5.5%

It has just been announced by the Bank of England that interest rates will remain at 5.5% resulting in surprise by most of the market. Many analysts predicted interest rates to be cut a quarter percent (0.25%) today after evidence suggesting the UK housing market has seen a slow down with some areas reporting property price reductions.
It is still believed interest rates will be cut in the near future with the next review taking place in February.