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04/09/2003
Interest rates stick at 3.5%
The Bank of England’s Monetary Policy Committee has announced that the UK interest rate will be held at 3.5%.
Many leading economists consider that the interest rate may have reached its lowest point, particularly as there are early signs of an economic recovery.
The decision to cut the interest rate last month by one quarter of one percent was a surprise move, but the cut, which provided consumers with access to the lowest interest rate in almost 50 years, may have been sufficient to see the economy over the worst.
Last month’s cut by the committee was mainly prompted by concerns about a stuttering global economic recovery and that inflation could drop below its year-on target of 2.5%.
However, with signs that the housing market is cooling while consumer spending continues to grow, there are conflicting indicators emerging from within the consumer sector.
Business leaders though will be keeping a close eye on the global economic situation and will be calling for a cut in interest rates if the circumstances call for one.
(SP)
Many leading economists consider that the interest rate may have reached its lowest point, particularly as there are early signs of an economic recovery.
The decision to cut the interest rate last month by one quarter of one percent was a surprise move, but the cut, which provided consumers with access to the lowest interest rate in almost 50 years, may have been sufficient to see the economy over the worst.
Last month’s cut by the committee was mainly prompted by concerns about a stuttering global economic recovery and that inflation could drop below its year-on target of 2.5%.
However, with signs that the housing market is cooling while consumer spending continues to grow, there are conflicting indicators emerging from within the consumer sector.
Business leaders though will be keeping a close eye on the global economic situation and will be calling for a cut in interest rates if the circumstances call for one.
(SP)
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08 September 2005
Interest rates remain on hold at 4.5%
The Bank of England has left interest rates unchanged at 4.5%, as expected by many analysts. Last month, the Bank’s Monetary Policy Committee (MPC) reduced interest rates from 4.75% to 4.5%, amid fears of a slowdown in economic growth and a slump in consumer spending.
Interest rates remain on hold at 4.5%
The Bank of England has left interest rates unchanged at 4.5%, as expected by many analysts. Last month, the Bank’s Monetary Policy Committee (MPC) reduced interest rates from 4.75% to 4.5%, amid fears of a slowdown in economic growth and a slump in consumer spending.
09 June 2005
Interest rates remain at 4.75%
The Monetary Policy Committee for the Bank of England has left UK interest rates unchanged for the tenth month in a row. The decision to keep the interest rate at running, at 4.75% follows further uncertainty in the economy. Figures published today revealed that while there was slight monthly increase, 0.
Interest rates remain at 4.75%
The Monetary Policy Committee for the Bank of England has left UK interest rates unchanged for the tenth month in a row. The decision to keep the interest rate at running, at 4.75% follows further uncertainty in the economy. Figures published today revealed that while there was slight monthly increase, 0.
09 November 2007
Interest Rates On Hold But Cut Likely Soon
Mounting pressure for a cut in the UK's interest rate hasn't produced one yet, but the good news for borrowers is that the Bank of England has at least kept interest rates on hold at 5.75% and indications are that a cut is due next time.
Interest Rates On Hold But Cut Likely Soon
Mounting pressure for a cut in the UK's interest rate hasn't produced one yet, but the good news for borrowers is that the Bank of England has at least kept interest rates on hold at 5.75% and indications are that a cut is due next time.
07 August 2008
Interest Rates Held
The Bank of England has kept interest rates at 5% for the fourth month in a row in a bid to balance slow growth and rising inflation. The Monetary Policy Committee's (MPC) primary goal is to reduce the current inflation rate of 3.8% to the Government target of 2%.
Interest Rates Held
The Bank of England has kept interest rates at 5% for the fourth month in a row in a bid to balance slow growth and rising inflation. The Monetary Policy Committee's (MPC) primary goal is to reduce the current inflation rate of 3.8% to the Government target of 2%.
09 March 2006
UK interest rates left on hold
UK interest rates have remained on hold at 4.5% for the seventh month running. The Bank of England's Monetary Policy Committee decision is believed to have been influenced by a gradual recovery in house prices and other signs of economic strength, as well as a steady inflation rate.
UK interest rates left on hold
UK interest rates have remained on hold at 4.5% for the seventh month running. The Bank of England's Monetary Policy Committee decision is believed to have been influenced by a gradual recovery in house prices and other signs of economic strength, as well as a steady inflation rate.
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
