Bank of England 'disappointing 31 million people'

The Bank of England is disappointing 31 million British citizens, it has been claimed.

Earlier today, the Bank's monetary policy committee announced that it is to keep interest rates on hold, much to the disappointment of a number of Brits, according to Fool.co.uk.

Head of personal finance for the consumer website David Kuo remarked that people are feeling "increasingly stretched" due to greater fuel costs, household budgets and food bills.

Mr Kuo added that homeowners should save in order to make sure that they are comfortable in the event of more troubling times in the future.

He said: "Make yourself a cash-cushion now. It's the most comfortable thing to sit on in a recession and it beats sitting on your hands any day."

This comes as research from money charity Credit Action has revealed that people in the UK have built up a personal arrears mountain of over £1.4 trillion.

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Bank of England 'disappointing 31 million people'