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.

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>