Interest rates have been held at 5.25% for the sixth time in a row by the Bank of England’s Monetary Policy Committee (MPC).

While rate cuts are expected in the UK, and in Europe, within the next couple of months, the general consensus amongst economists was for another hold on rates for now.

The decision not to cut just yet comes as inflation, which measures price rises over time, remains above the Bank’s 2% target at 3.2%.

Last week, Mortgage Strategy reported that stronger wage and inflation data had pushed back the chances of a summer rate cut.