Menu
05/10/2005
Interest rates likely to stay unchanged
The Bank of England's Monetary Policy Committee (MPC) is widely expected to leave the interest rate at 4.5% this month.
High Street sales are flagging as consumers struggle with rising fuel costs and many are increasingly worried about debt burdens.
A recent CBI report revealed that retail sales had fallen dramatically as customers kept their money in their pockets. Sales volumes dipped at the highest rate in over 20 years last month.
Several High Street multiples have issued renewed profit warnings, but all will be looking towards improving seasonal trading later in the year.
However, the housing sector, which has been sluggish recently, is beginning to show some signs of renewed movement with lenders reporting that mortgage approvals are up slightly - analysts believe this could be an indication that the retail sector may follow suit.
The major concern remains the spiralling cost of energy both to domestic consumers and businesses that is in turn feeding through into inflationary pressures. This increasing pressure is likely to hold back the MPC from cutting interest rates at least in the short-term.
(SP/KMcA)
High Street sales are flagging as consumers struggle with rising fuel costs and many are increasingly worried about debt burdens.
A recent CBI report revealed that retail sales had fallen dramatically as customers kept their money in their pockets. Sales volumes dipped at the highest rate in over 20 years last month.
Several High Street multiples have issued renewed profit warnings, but all will be looking towards improving seasonal trading later in the year.
However, the housing sector, which has been sluggish recently, is beginning to show some signs of renewed movement with lenders reporting that mortgage approvals are up slightly - analysts believe this could be an indication that the retail sector may follow suit.
The major concern remains the spiralling cost of energy both to domestic consumers and businesses that is in turn feeding through into inflationary pressures. This increasing pressure is likely to hold back the MPC from cutting interest rates at least in the short-term.
(SP/KMcA)
Related UK National News Stories
Click here for the latest headlines.
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.
19 February 2004
Strong retail sales growth stokes interest rate hike
The strong surge in retail sales revealed in the latest figures from the Office of National Statistics (ONS) has fuelled speculation that another interest rate rise is imminent. According to the ONS figures retail sales in the UK leapt 0.6% in January, raising sales to 6.4% above that of the previous year.
Strong retail sales growth stokes interest rate hike
The strong surge in retail sales revealed in the latest figures from the Office of National Statistics (ONS) has fuelled speculation that another interest rate rise is imminent. According to the ONS figures retail sales in the UK leapt 0.6% in January, raising sales to 6.4% above that of the previous year.
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.
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.
-
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.
