The Bank of England's decision to maintain interest rates at 5.25% has drawn criticism from the Liberal Democrats, who attribute ongoing financial strain on homeowners to Conservative economic policies.

This rate, at a 16-year high, remains unchanged amid concerns about inflation, which continues to surpass the Bank's 2% target despite recent decreases.

Sarah Olney MP, the Liberal Democrat Treasury spokesperson, voiced her disapproval, stating: “This is a hammer blow for homeowners who were sold a false dawn of lower rates by the government.”

She linked the sustained high rates and resulting mortgage pressures directly to the Conservative administration’s economic management.

“Millions of families are now left to cope with higher mortgages, with no end in sight to the cost of living crisis,” Olney added, highlighting the broader impact on UK households.

She accused current and former Prime Ministers Rishi Sunak and Liz Truss of causing “mortgage turmoil” and said: “The blame lies squarely with this incompetent Conservative Government,” insisting that an apology is owed to affected families by the Tory leaders.