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15/01/2002
Inflation rate rises but still below government target
UK inflation rose by 0.1 per cent last month to an annual rate of 1.9 per cent - but has remained at one of its lowest levels since records began.
The rate was also still below the government's target of 2.0-2.5 per cent.
The headline rate of inflation meanwhile, which includes the cost of home loans, fell by 0.2 percentage points to 0.7 per cent because of cheaper mortgage costs.
The underlying rate of inflation - which strips out mortgage costs - has now remained below the target level for 32 of the past 33 months, allowing the Bank of England to make seven rate cuts last year as it tried to prevent the UK economy from falling into recession.
The UK base rate is now at 4.0 per cent, its lowest level for 37 years.
Many analysts now think that there may be room for one more rate cut, before rates begin to rise again later in the year. (MB)
The rate was also still below the government's target of 2.0-2.5 per cent.
The headline rate of inflation meanwhile, which includes the cost of home loans, fell by 0.2 percentage points to 0.7 per cent because of cheaper mortgage costs.
The underlying rate of inflation - which strips out mortgage costs - has now remained below the target level for 32 of the past 33 months, allowing the Bank of England to make seven rate cuts last year as it tried to prevent the UK economy from falling into recession.
The UK base rate is now at 4.0 per cent, its lowest level for 37 years.
Many analysts now think that there may be room for one more rate cut, before rates begin to rise again later in the year. (MB)
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18 June 2002
UK inflation rate falls below two per cent
Official figures from the Office for National Statistics (ONS) has revealed that the UK inflation rate fell sharply last month to 1.8% in May from 2.3% in April.
UK inflation rate falls below two per cent
Official figures from the Office for National Statistics (ONS) has revealed that the UK inflation rate fell sharply last month to 1.8% in May from 2.3% in April.
02 October 2001
US rate cut expected to battle economic recession
The US Federal Reserve was widely expected to cut interest rates for the ninth time this year in a bid to help stave off a recession and fight the effects of the terrorist attacks on the US. With the US economy edging closer to recession many analysts were anticipating a 0.25 per cent rate cut, but a 0.5 per cent cut was not being ruled out.
US rate cut expected to battle economic recession
The US Federal Reserve was widely expected to cut interest rates for the ninth time this year in a bid to help stave off a recession and fight the effects of the terrorist attacks on the US. With the US economy edging closer to recession many analysts were anticipating a 0.25 per cent rate cut, but a 0.5 per cent cut was not being ruled out.
11 December 2001
UK inflation drops to all time low
Inflation in the UK fell sharply last month according to the most recent figures released by the Office for National Statistics. The rate of inflation fell by 0.4 per cent in November taking the annual inflation rate down from 2.3 per cent in October to 1.8 per cent in November.
UK inflation drops to all time low
Inflation in the UK fell sharply last month according to the most recent figures released by the Office for National Statistics. The rate of inflation fell by 0.4 per cent in November taking the annual inflation rate down from 2.3 per cent in October to 1.8 per cent in November.
16 October 2001
Sharp drop in UK inflation
The rate of UK inflation, which includes mortgage interest payments, fell in September by 0.4 of a percentage point to 1.7 per cent, according to the Office for National Statistics. The underlying rate fell just below the government’s target level of 2.5 per cent to 2.3 per cent.
Sharp drop in UK inflation
The rate of UK inflation, which includes mortgage interest payments, fell in September by 0.4 of a percentage point to 1.7 per cent, according to the Office for National Statistics. The underlying rate fell just below the government’s target level of 2.5 per cent to 2.3 per cent.
14 August 2001
Inflation rate fall may herald a further interest rate cut
Speculation is growing that a fall in the underlying inflation rate, down to 2.2 per cent, may give the Bank of England’s Monetary Policy Committee further room for manoeuvre to lower interest rates. Continued severe pressure on manufacturing industry has prompted further calls from industry leaders seeking another cut in the UK interest rate.
Inflation rate fall may herald a further interest rate cut
Speculation is growing that a fall in the underlying inflation rate, down to 2.2 per cent, may give the Bank of England’s Monetary Policy Committee further room for manoeuvre to lower interest rates. Continued severe pressure on manufacturing industry has prompted further calls from industry leaders seeking another cut in the UK interest rate.
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Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
