Loan costs to stay on hold

Interest rates look set to stay on hold this month, as business leaders urge the Bank of England to consider weakening economic data.Since November last year the Bank of England’s interest rate setting Monetary Policy Committee has increased the cost of borrowing five times from 3.5 to 4.75 per cent. However, since August rates have been held at their current level. Over that time the booming property market has ground almost to a halt and oil prices have hit record highs.The CBI has now said