Interest Rates

Interest Rates Stay at 5.75%

Small Business News – 8 th November 2007 The Bank of England’s Monetary Policy Committee has kept interest rates at 5.75%. This is the fourth month in a row that UK interest rates have remained the same since the last increase in July 2007 when the rate rose by one quarter of a percent from 5.5% to 5.75%. With inflation currently at 1.8%, below the 2% target, and oil prices close to $100 a barrel, the MPC thought it wise not to drop interest rates in the wake of an uncertain economic outlook. The next interest rate decision will be announced on December 6th. »

Bank of England Holds Interest Rates

Small Business News – 4th October 2007 The Bank of England has held interest rates at 5.75% despite pressure from some quarters to drop them. Analysts from, amongst others, the Organisation for Economic Co-operation and Development (OECD) and the Ernst & Young ITEM Club had called for interest rates to drop in order to boost the UK eceonomy ahead of an expected slight slowdown in economic growth next year. The Bank of England’s Monetary Policy Committee held interest rates last month too where the figure has remained at 5.75% since the increase in July. After the last interest rate hold, the US sub-prime market crisis hit the American housing market and the Northern Rock banking crash happened here in the UK. As a result of the tougher financial lending conditions and econo... »

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