Private landlords and other homeowners will go through another month with interest rates at 0.5 per cent.

The Bank of England's monetary policy committee (MPC) announced at noon today that the base rate will remain at this record low level throughout July.

It has been set at 0.5 percentage points since March 2009 and today's decision represents the fourth consecutive freeze in the cost of borrowing.

Many experts predict that there will be no change in the interest rate until the end of 2009.

People with some tracker mortgages will have benefited from the low rate in recent months, while the government's decision to increase the stamp duty property tax threshold to all homes bought for £175,000 or less has also been a welcome move.

This property tax threshold is in place until the end of the year, but it is scheduled to move back down to £125,000 on January 1st 2010.

Written by John Weeks
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