The Bank of England has put interest rates on ice in January following its dramatic quarter point cut in December. The move to fix rates for the coming month is highly likely to have drawn on the building inflationary pressures put on the UK economy by surging energy prices. However many believe that the Bank must pull rates down by at least another quarter point sooner rather than later, with most who had hoped for a cut this month renewing their calls for a February cut. For the moment at least, stretched borrowers counting the cost of Christmas will have to dig deeper into their pockets, with Grant Thornton predicting that at least 10,000 Britons a month will have to take out and IVA in 2008 in order to avoid bankruptcy.