The Bank of England has decided to maintain interest rates at 4.5%, despite signs of an economic slowdown and the decline in high street spending. Linden Homes chief executive Philip Davies commented: "As the Christmas lights are switched on, hope of a second cut in interest rates is fading fast, with the base rate almost certainly set to remain at 4.5% for the remainder of 2005 unless there is an indisputable sign of further economic floundering. "The housing market is ticking along but there is no doubt that a further cut would provide a much needed boost as we head into the notoriously difficult winter period. While October did herald the return of the investor, we expect the market to remain price sensitive over the remainder of 2005."