The Bank of England has held interest rates at 3.75% for the fifth consecutive meeting. Members of the Monetary Policy Committee (MPC) voted in favour of freezing the base rate, as predicted by most economists. At its meeting yesterday, the MPC voted by a majority of 6–3 in favour of holding rates. Bank of England governor Andrew Bailey says: “Today, we’ve held Bank Rate at 3.75%. However, mortgage industry experts are bracing for a potential rate rise in the coming months.