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For the 16th month in a row, interest rates in the UK were held at a record low of 0.5% by the Bank of England. This news didn’t necessarily come as a great surprise to those who keep their fingers on the pulse of the UK economy, but it has raised concerns with people who are worried about inflation. Such people were hoping for an increase in interest rates, which they believe will help curb or slow inflation. Their concerns are backed up by the latest Consumer Prices Index, which hit a 17-month high of 3.7% in April. It fell in May to 3.4%, but continues to be well above the target rate of 2% that the Bank of England wants. (more…)