Menu
05/12/2001
UK interest rates remain unchanged
The Bank of England has left interest rates unchanged at four per cent, in line with analysts' forecasts.
The Bank's decision was widely predicted by City analysts, who said that having reduced interest rates by an unexpectedly high 0.5 per cent last month, the Bank was unlikely to cut again this week.
The Bank of England has now cut rates seven times since February in a bid to stave off a recession, thus reducing the cost of borrowing by two percentage points to a 40-year low of four per cent.
However, many city economists believe that the Bank will cut rates at least one more time before the cost of borrowing starts to rise again.
While the Bank's decision had little impact on the financial markets, the FSTE 100 index of leading shares, which was holding steady at 5,260 points early on Wednesday afternoon, was one per cent up on the day. (MB)
The Bank's decision was widely predicted by City analysts, who said that having reduced interest rates by an unexpectedly high 0.5 per cent last month, the Bank was unlikely to cut again this week.
The Bank of England has now cut rates seven times since February in a bid to stave off a recession, thus reducing the cost of borrowing by two percentage points to a 40-year low of four per cent.
However, many city economists believe that the Bank will cut rates at least one more time before the cost of borrowing starts to rise again.
While the Bank's decision had little impact on the financial markets, the FSTE 100 index of leading shares, which was holding steady at 5,260 points early on Wednesday afternoon, was one per cent up on the day. (MB)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
04 April 2002
Interest rates remain unchanged at 4 per cent
The Bank of England have announced that UK interest rates will remain unchanged at a 38-year low of four per cent following the monthly meeting of the bank's Monetary Policy Committee (MPC). The news was broadly welcomed as the UK, and Europe, continues to slowly edge out of last year's downturn.
Interest rates remain unchanged at 4 per cent
The Bank of England have announced that UK interest rates will remain unchanged at a 38-year low of four per cent following the monthly meeting of the bank's Monetary Policy Committee (MPC). The news was broadly welcomed as the UK, and Europe, continues to slowly edge out of last year's downturn.
14 February 2002
Inflation rises but interest rates unchanged
The Bank of England Monetary Policy Committee (MPC) have decided not to raise interest rates at its monthly meeting, despite inflation warnings from the Office for National Statistics (ONS). The figures released by the ONS revealed an underlying inflation rate that exceeded the rates anticipated by the Bank of England.
Inflation rises but interest rates unchanged
The Bank of England Monetary Policy Committee (MPC) have decided not to raise interest rates at its monthly meeting, despite inflation warnings from the Office for National Statistics (ONS). The figures released by the ONS revealed an underlying inflation rate that exceeded the rates anticipated by the Bank of England.
30 August 2001
European Central Bank cuts interest rates
The European Central Bank (ECB) has cut interest rates to 4.25 per cent. The news came on Thursday August 30, the day the Bank kicks off the countdown to the introduction of the euro as a cash currency in just four months time. A cut from the ECB’s 4.
European Central Bank cuts interest rates
The European Central Bank (ECB) has cut interest rates to 4.25 per cent. The news came on Thursday August 30, the day the Bank kicks off the countdown to the introduction of the euro as a cash currency in just four months time. A cut from the ECB’s 4.
19 March 2002
US shows positive signs for economic growth
The US economy has shown signs of an economic turnaround after figures for the last quarter showed that GDP had risen by 2.7 per cent. It is expected that the rise in GDP will force the US central bank to reassess its somewhat cautious and negative view of the economy. The quarterly figures also reveal consumer spending rose 1.
US shows positive signs for economic growth
The US economy has shown signs of an economic turnaround after figures for the last quarter showed that GDP had risen by 2.7 per cent. It is expected that the rise in GDP will force the US central bank to reassess its somewhat cautious and negative view of the economy. The quarterly figures also reveal consumer spending rose 1.
08 August 2001
Economy slow down predicted by Bank of England
According to the latest economic analysis from the Bank of England, the UK economy will remain weak for the rest of this year. The Bank’s quarterly inflation report indicated that although the economy was expected to begin to recover in 2002 the current pressures on the euro zone economic area were intense.
Economy slow down predicted by Bank of England
According to the latest economic analysis from the Bank of England, the UK economy will remain weak for the rest of this year. The Bank’s quarterly inflation report indicated that although the economy was expected to begin to recover in 2002 the current pressures on the euro zone economic area were intense.
-
Northern Ireland WeatherToday:A mostly cloudy start with scattered showers, the showers becoming more isolated and largely confined to the south this morning. Becoming brighter this afternoon, the best of any sunnier spells across northern counties. Northerly winds easing. Maximum temperature 12 °C.Tonight:A dry evening with late sunny spells and some long clear spells overnight. Becoming cloudier across the north towards dawn with a few showers possible. Touch of frost in south. Minimum temperature 0 °C.
