You are here: Home - Uncategorized -

Interest rates held at 4.5%

0
Written by:
10/02/2006

The Bank of England has voted to maintain interest rates at 4.5%.

 The decision to hold rates was widely expected in the City, with speculation now growing over whether the next rate cut will come in March or May.

Analysts believe the minutes of the meeting to be published in two weeks will show signs of growing divisions inside the nine-strong Monetary Policy Committee (MPC) of economists at the Bank.

Next week’s Quarterly Inflation report will have a great influence on any potential Base Rate move.

“The MPC will have had access to much of the draft Report before deciding to leave Base Rate at 4.5% and it is primarily because the next Inflation Report is due in May that the consensus view now is that Base Rate won’t be cut until then,” observes Ray Boulger of broker John Charcol.

“However, the jury is out on the timing of the next cut and whether it is in March or the second quarter will depend primarily on next month’s statistics and any further signs of a weakening economy.”

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Wage inflation 3%-4%

Pay deals so far in the key new year pay bargaining period are being struck at between three and four...

Close