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09/06/2005
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, 0.9%, in manufacturing output the three-month figures revealed a continuing decline in manufacturing. The Office of National Statistics (ONS) reported that manufacturing output dropped by 1.2% between April and May 2005, though this was slightly less than the 1.6% decline between February and March this year.
There are also concerns over consumer debt and slowing high street sales and fears of stagnation in the housing market.
Manufacturing organisations have welcomed the MPC's decision, but, like retailers' organisations, want to see a reduction in the interest rate to boost flagging sales.
British Chambers of Commerce Director General David Frost said: "British business has expected today's MPC decision to leave interest rates unchanged. We have consistently opposed demands made earlier in the year for interest rate increases and we are relieved that the financial markets now accept our assessment.
"We believe that today's decision was on balance correct. But it is critically important that the MPC should now give greater weight to the worsening economic circumstances and should consider more actively the need for an early cut in interest rates."
(SP/GB)
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, 0.9%, in manufacturing output the three-month figures revealed a continuing decline in manufacturing. The Office of National Statistics (ONS) reported that manufacturing output dropped by 1.2% between April and May 2005, though this was slightly less than the 1.6% decline between February and March this year.
There are also concerns over consumer debt and slowing high street sales and fears of stagnation in the housing market.
Manufacturing organisations have welcomed the MPC's decision, but, like retailers' organisations, want to see a reduction in the interest rate to boost flagging sales.
British Chambers of Commerce Director General David Frost said: "British business has expected today's MPC decision to leave interest rates unchanged. We have consistently opposed demands made earlier in the year for interest rate increases and we are relieved that the financial markets now accept our assessment.
"We believe that today's decision was on balance correct. But it is critically important that the MPC should now give greater weight to the worsening economic circumstances and should consider more actively the need for an early cut in interest rates."
(SP/GB)
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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.
08 May 2003
Bank of England holds interest rates at 3.75%
The Monetary Policy Committee of the Bank of England has announced its decision to keep interest rates in the UK at 3.75%. The decision by the MPC to hold rates comes in spite of concerns about the increasingly weakened state of the UK economy, particularly the in manufacturing sector.
Bank of England holds interest rates at 3.75%
The Monetary Policy Committee of the Bank of England has announced its decision to keep interest rates in the UK at 3.75%. The decision by the MPC to hold rates comes in spite of concerns about the increasingly weakened state of the UK economy, particularly the in manufacturing sector.
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.
09 February 2006
Interest rates left at 4.5%
The Bank of England has left interest rates on hold at 4.5% for another month. It was widely predicted that the Bank's Monetary Policy Committee would not reduce interest rates, although some economists are predicting that a cut will be made in the spring. The last time the MPC reduced interest rates was last August, when rates were cut by 0.
Interest rates left at 4.5%
The Bank of England has left interest rates on hold at 4.5% for another month. It was widely predicted that the Bank's Monetary Policy Committee would not reduce interest rates, although some economists are predicting that a cut will be made in the spring. The last time the MPC reduced interest rates was last August, when rates were cut by 0.
10 November 2005
Interest rates remain unchanged
The Bank of England has left interest rates unchanged at 4.5% for the third month in a row. The decision, made by the Bank’s Monetary Policy Committee (MPC), had been expected, due to the recent rise in inflation. Inflation is forecast to remain above the 2% target for a while, mainly due to rising oil prices.
Interest rates remain unchanged
The Bank of England has left interest rates unchanged at 4.5% for the third month in a row. The decision, made by the Bank’s Monetary Policy Committee (MPC), had been expected, due to the recent rise in inflation. Inflation is forecast to remain above the 2% target for a while, mainly due to rising oil prices.
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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.
