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09/03/2006
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.
Interest rates were last cut in August 2005, when they were reduced from 4.75% to the current rate of 4.5%.
Commenting on the decision, David Frost, Director General of the British Chambers of Commerce, said that the decision had been "widely expected by the financial markets". However, he said: "While we are not surprised, we are disappointed that the MPC felt unable to take action to counter the underlying weaknesses of the economy.
"We understand that the MPC must make difficult choices. But there is a clear risk that without corrective action, the upward trend in unemployment would accelerate. We continue to believe that a cut in interest rates will be needed in the next few months, and we urge the MPC to consider early action."
Ian McCafferty, Chief Economic Advisor for the Confederation of British Industry, said: "The MPC has opted to remain on a steady course to gauge whether the spring will bring signs of a fledgling recovery. But with the current sluggishness of the economy and inflationary data likely to undershoot the Bank's expectations, we believe there will be room for a quarter point cut in interest rates before too long."
(KMcA/GB)
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.
Interest rates were last cut in August 2005, when they were reduced from 4.75% to the current rate of 4.5%.
Commenting on the decision, David Frost, Director General of the British Chambers of Commerce, said that the decision had been "widely expected by the financial markets". However, he said: "While we are not surprised, we are disappointed that the MPC felt unable to take action to counter the underlying weaknesses of the economy.
"We understand that the MPC must make difficult choices. But there is a clear risk that without corrective action, the upward trend in unemployment would accelerate. We continue to believe that a cut in interest rates will be needed in the next few months, and we urge the MPC to consider early action."
Ian McCafferty, Chief Economic Advisor for the Confederation of British Industry, said: "The MPC has opted to remain on a steady course to gauge whether the spring will bring signs of a fledgling recovery. But with the current sluggishness of the economy and inflationary data likely to undershoot the Bank's expectations, we believe there will be room for a quarter point cut in interest rates before too long."
(KMcA/GB)
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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.
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.
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.
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.
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.
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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.
