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08/06/2006
UK interest rates stay at 4.5%
The Bank of England has today announced that interest rates will remain unchanged for the tenth consecutive month.
However, while rates were again held at 4.5%, there are concerns that growing inflationary pressures may men that interest rates will be set to rise later this year.
The Bank of England's quarterly report noted that inflation was likely to exceed the Government target of 2% if the base lending rate was not increased.
Though the decision by the Bank's Monetary Policy Committee (MPC) is to hold rates steady for the moment, the situation is far from clear cut.
The stock market has been underperforming recently and the US dollar has been falling, both factors that the MPC will be keeping an eye on.
The MPC's rationale for the decision announced today will not be known until the minutes of the meeting are published later this month.
But almost certain to feature are the strength of sterling, the fall in UK manufacturing output, and signs that the retail sector may be beginning to pick up.
(SP/KMcA)
However, while rates were again held at 4.5%, there are concerns that growing inflationary pressures may men that interest rates will be set to rise later this year.
The Bank of England's quarterly report noted that inflation was likely to exceed the Government target of 2% if the base lending rate was not increased.
Though the decision by the Bank's Monetary Policy Committee (MPC) is to hold rates steady for the moment, the situation is far from clear cut.
The stock market has been underperforming recently and the US dollar has been falling, both factors that the MPC will be keeping an eye on.
The MPC's rationale for the decision announced today will not be known until the minutes of the meeting are published later this month.
But almost certain to feature are the strength of sterling, the fall in UK manufacturing output, and signs that the retail sector may be beginning to pick up.
(SP/KMcA)
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UK interest rates rise to 4.5%
Interest rates have been increased by a quarter percent to 4.5%, the Bank of England has announced today. The bank's Monetary Policy Committee (MPC) said today that while inflation is below the 2% target, "cost pressures are rising".
08 January 2004
UK Interest rates sticks at 3.75%
As expected, the Bank of England has decided to hold the base rate at 3.75% today. The Bank's Monetary Policy Committee (MPC) opted to hold the rate following a quarter point rise in December - the first rise in four years. However, analysts are continuing to warn consumers that rises are imminent in the year ahead.
UK Interest rates sticks at 3.75%
As expected, the Bank of England has decided to hold the base rate at 3.75% today. The Bank's Monetary Policy Committee (MPC) opted to hold the rate following a quarter point rise in December - the first rise in four years. However, analysts are continuing to warn consumers that rises are imminent in the year ahead.
04 September 2001
Bank likely to leave interest rate unchanged
The Monetary Policy Committee (MPC) of the Bank of England are likely to leave interest rates unchanged at 5 per cent. The Committee are due to begin their latest two-day meeting amid a spate of calls for another cut in the interest rate.
Bank likely to leave interest rate unchanged
The Monetary Policy Committee (MPC) of the Bank of England are likely to leave interest rates unchanged at 5 per cent. The Committee are due to begin their latest two-day meeting amid a spate of calls for another cut in the interest rate.
11 January 2002
Bank Of England holds firm on interest rates
Interest rates are holding steady at 4 per cent, despite fears that increasing house prices and High Street sales could lead to a rise in inflation.
Bank Of England holds firm on interest rates
Interest rates are holding steady at 4 per cent, despite fears that increasing house prices and High Street sales could lead to a rise in inflation.
04 January 2002
Bank of England may raise interest rates to stem consumer spending
Speculation is mounting that The Bank of England plans to step in to deal with the current credit card fuelled spending boom that is gripping the UK economy. The likelihood of this happening was raised after the head of the Bank of England, Sir Edward George, said that consumer demand needed to be moderated.
Bank of England may raise interest rates to stem consumer spending
Speculation is mounting that The Bank of England plans to step in to deal with the current credit card fuelled spending boom that is gripping the UK economy. The likelihood of this happening was raised after the head of the Bank of England, Sir Edward George, said that consumer demand needed to be moderated.
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