Money blog: Interest rate held again - as 'obstinate' Bank of England criticised

The Bank of England's Monetary Policy Committee was never going to cut interest rates today. Not two weeks before a general election.

4p in May last year but which cost 148.8p in May this year.More broadly, the economy is growing more strongly than the Bank has been expecting, as are several indicators of economic activity, among them spending by households on repair and maintenance of their homes and consumer confidence.Wage inflationThe other major concern for the MPC is that wage inflation, at 5.9% during the three months to the end of April, remains too high for its liking.

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