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08/09/2005
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.
However, there are increasing fears about inflationary pressures, as inflation rose to 2.3% in July, 0.3% above the Bank’s target rate. It is feared that inflation could rise even further, due to rising oil prices in the wake of the Hurricane Katrina disaster.
The MPC’s decision to cut rates last month was close, with four members, including governor Mervyn King, voting against the reduction.
Howard Archer, chief economist at analysts Global Insight, described the decision as “predictable”. He said: “The committee has made it clear that it is currently in no hurry to cut rates further.”
However, Mr Archer said that they still believe that a further 0.25% interest rate could be introduced before the end of the year.
(KMcA/SP)
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.
However, there are increasing fears about inflationary pressures, as inflation rose to 2.3% in July, 0.3% above the Bank’s target rate. It is feared that inflation could rise even further, due to rising oil prices in the wake of the Hurricane Katrina disaster.
The MPC’s decision to cut rates last month was close, with four members, including governor Mervyn King, voting against the reduction.
Howard Archer, chief economist at analysts Global Insight, described the decision as “predictable”. He said: “The committee has made it clear that it is currently in no hurry to cut rates further.”
However, Mr Archer said that they still believe that a further 0.25% interest rate could be introduced before the end of the year.
(KMcA/SP)
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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.
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.
05 April 2007
Interest rates kept on hold
The Bank of England has voted to keep interest rates at 5.25% for the second month in a row. The decision is good news for borrowers, as there had been fears that interest rates would be increased to 5.5% this month. If this had happened, homeowners with an average £100,000 mortgage would have faced a rise of £16 per month on their repayments.
Interest rates kept on hold
The Bank of England has voted to keep interest rates at 5.25% for the second month in a row. The decision is good news for borrowers, as there had been fears that interest rates would be increased to 5.5% this month. If this had happened, homeowners with an average £100,000 mortgage would have faced a rise of £16 per month on their repayments.
04 September 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.
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.
08 December 2005
Interest rates rest at 4.5%
The Bank of England has kept interest rates at 4.5% for the fourth month in succession. The Bank’s Monetary Policy Committee (MPC) reflects the recent rise in inflation and anxiety over retail sales in the run up to Christmas. Last month inflation was forecast to remain above the government's 2% target, mainly due to rising oil prices.
Interest rates rest at 4.5%
The Bank of England has kept interest rates at 4.5% for the fourth month in succession. The Bank’s Monetary Policy Committee (MPC) reflects the recent rise in inflation and anxiety over retail sales in the run up to Christmas. Last month inflation was forecast to remain above the government's 2% target, 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.
