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09/11/2007
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.
Despite pressure for a cut in the cost of borrowing now, the nine members of the Bank's Monetary Policy Committee (MPC) have left the base rate unchanged for the fourth month in a row.
But discussions ahead of the decision are thought to have been lively given recent economic indicators.
Figures earlier this week suggested the credit crunch and five interest rate rises since last August had begun to have more of an effect on the economy and consumer confidence than predicted.
But expectations of an imminent cut decreased in recent weeks after the economy showed robust growth.
Now, economists say that while the MPC has opted against a pre-emptive cut, rates could come down as early as next month, with two cuts - to 5.25 per cent - expected by next summer.
(BMcC)
Despite pressure for a cut in the cost of borrowing now, the nine members of the Bank's Monetary Policy Committee (MPC) have left the base rate unchanged for the fourth month in a row.
But discussions ahead of the decision are thought to have been lively given recent economic indicators.
Figures earlier this week suggested the credit crunch and five interest rate rises since last August had begun to have more of an effect on the economy and consumer confidence than predicted.
But expectations of an imminent cut decreased in recent weeks after the economy showed robust growth.
Now, economists say that while the MPC has opted against a pre-emptive cut, rates could come down as early as next month, with two cuts - to 5.25 per cent - expected by next summer.
(BMcC)
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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.
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%.
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 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.
08 January 2009
Interest Rates Reach All-Time Low Of 1.5%
The Bank of England has cut interest rates to 1.5%, as it is rumoured the Chancellor is considering printing more money in an attempt to alleviate the pressures of the credit crunch. The Bank's Monetary Policy announced the cut of 0.5 percentage point, taking it to its lowest level in its 315-year history.
Interest Rates Reach All-Time Low Of 1.5%
The Bank of England has cut interest rates to 1.5%, as it is rumoured the Chancellor is considering printing more money in an attempt to alleviate the pressures of the credit crunch. The Bank's Monetary Policy announced the cut of 0.5 percentage point, taking it to its lowest level in its 315-year history.
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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.
