Bank rates kept steady

Bank rates kept steady

Thursday, February 08, 2007

Homeowners will be pleased to know that the Bank of England’s Monetary Policy Committee ended days of speculation and kept interest rates on hold at 5.25% at the end of their two-day meeting midday today.

However, economist believe it to have been a close call this month as the quarterly inflation report – traditionally the trigger of bank rate movements – was suspected may show further increasing tendencies. CPI hit 3% in December and if it had increased any further Mervyn King would have had to write a letter to the Chancellor explaining why inflation has risen above 3%.

However the diminishing year-on-year impact of higher utility bills should mean inflation comes under less pressure in the months to come, although wage growth remains a worry for MPC members.

The previous change in Bank Rate was an increase of 0.25 percentage points to 5.25% on 11 January 2007. Most economists are predicting a further rise before summer, so today’s relief at the hold is likely to be temporary.

CLICK HERE TO PRINT THIS PAGE

CLICK HERE FOR OUR FULL NEWS ARCHIVE

Get this news on your website !

If you have a website, whether it is a personal homepage or a fully fledged estate agent service, you can get our news headlines included on your site. Both these newsfeed services give you the option of having the full news content from TheMoveChannel.com - not just the articles that appear on country subdomains such as this one:

Premium service

For just £50 / month, you can now have your own customised news service on your website. With the XML-based service, articles actually appear on a page on your site, making this a sticky feature that won't result in your traffic leaving. You have control over the display format to show your choice of headlines, dates and short article introductions and can apply your own style sheet or control the display format with XSL sheets. Finally, you can also set your subject preferences so that your feed only displays articles which are relevant to your site audience.

Top News Stories:

Brits abroad have 'no regrets’
6/19/2008 - Expats who’ve escaped to sunnier climes seemingly have no regrets about leaving the UK…

Canny FTBs remain ‘undeterred’
6/19/2008 - A new survey has revealed that FTBs are increasingly entering the new homes market with confidence...

Londoners love ‘laid-back’ Italy
6/18/2008 - A survey has revealed that Londoners see Italy as the most desirable place to buy property...

Sponsored listings:


Worldwide	England	Northern Ireland	Scotland	Wales	London	Spain	France	Italy	USA	Investment


Privacy policy Terms of use Support Bookmark now! uk index						TheMoveChannel.com is a protected Trademark. Copyright © 2000 - 2008 On The Move Ltd. All rights reserved.