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09/01/2014
Bank Of England Holds Interest Rate
The Bank of England has said it will maintain its interest rate at 0.5%.
It also gave no indication as to when it might increase the rate.
In August 2013, governor Mark Carney said the unemployment rate would need to fall to 7% before an increase in interest rates would be considered. The Bank felt the threshold would not be reached until 2016, but an improvement in economic conditions means the rate could change sooner than expected.
Unemployment currently stands at 7.4% and many believe this will fall to 7% later this year.
(JP)
It also gave no indication as to when it might increase the rate.
In August 2013, governor Mark Carney said the unemployment rate would need to fall to 7% before an increase in interest rates would be considered. The Bank felt the threshold would not be reached until 2016, but an improvement in economic conditions means the rate could change sooner than expected.
Unemployment currently stands at 7.4% and many believe this will fall to 7% later this year.
(JP)
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Mortgage Lenders Vow To Pass Further Interest Rate Cuts
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Mortgage Lenders Vow To Pass Further Interest Rate Cuts
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Tesco's 10% Profit Growth Amid Weak Economy
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Tesco's 10% Profit Growth Amid Weak Economy
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16 September 2014
ONS Figures Show Further Fall In UK Inflation Rate
New figures from the Office for National Statistics (ONS) have revealed that the annual rate of inflation, measured as the Consumer Price Index (CPI), fell in August to 1.5%. The news means that the Bank of England will not be under pressure to increase interest rates, as the CPI remains below its target of 2%.
ONS Figures Show Further Fall In UK Inflation Rate
New figures from the Office for National Statistics (ONS) have revealed that the annual rate of inflation, measured as the Consumer Price Index (CPI), fell in August to 1.5%. The news means that the Bank of England will not be under pressure to increase interest rates, as the CPI remains below its target of 2%.
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