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04/12/2003
No change in interest rates
The Bank of England today held the UK interest rate at 3.75% in order to allow the impact of last month's 0.25% rise on the housing market to be assessed.
The rate hold was widely expected after the Bank had previously indicated that it would "move cautiously".
The Bank of England's Monetary Policy Committee was also unlikely to favour an increase in rates for the second time in as many months, particularly as the Chancellor's pre-budget with its inflation forecast is expected next week.
The strength of the housing market and continued consumer spending are apparently beginning to tail off, albeit with mounting concerns at the rising level of consumer debt in the run up to the pre-Christmas spending season.
This was tempered by recent reports indicating that the seasonal UK consumer spending spree was off to slow start and that the manufacturing sector was expanding at its highest rate for four years.
However, economic analysts remain divided, some expect a rate rise in January, but others prefer February when quarterly inflation reports will have been finalised. But forecasters agree that consumers, many with high personal debt burdens, will face a full point rise in interest rates by late next year.
(SP)
The rate hold was widely expected after the Bank had previously indicated that it would "move cautiously".
The Bank of England's Monetary Policy Committee was also unlikely to favour an increase in rates for the second time in as many months, particularly as the Chancellor's pre-budget with its inflation forecast is expected next week.
The strength of the housing market and continued consumer spending are apparently beginning to tail off, albeit with mounting concerns at the rising level of consumer debt in the run up to the pre-Christmas spending season.
This was tempered by recent reports indicating that the seasonal UK consumer spending spree was off to slow start and that the manufacturing sector was expanding at its highest rate for four years.
However, economic analysts remain divided, some expect a rate rise in January, but others prefer February when quarterly inflation reports will have been finalised. But forecasters agree that consumers, many with high personal debt burdens, will face a full point rise in interest rates by late next year.
(SP)
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Interest rates remain on hold at 4.5%
The Bank of England has left interest rates unchanged at 4.5%, as expected by many analysts. Last month, the Bank’s Monetary Policy Committee (MPC) reduced interest rates from 4.75% to 4.5%, amid fears of a slowdown in economic growth and a slump in consumer spending.
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Interest rates rise to 5.5%
The Bank of England has announced that interest rates will rise from 5.25% to 5.5%. The rise is the fourth since last August, bringing the cost of borrowing to its highest level since 2001. The rise has been expected by analysts in order to try and keep inflation down.
06 July 2006
UK interest rates remain on hold
UK interest rates have been kept on hold at 4.5% for the eleventh month in a row, the Bank of England has announced. The decision, by the Bank's Monetary Policy Committee, had been widely expected, however some analysts believe that rates could rise before the end of the year. In May, inflation rose to 2.
UK interest rates remain on hold
UK interest rates have been kept on hold at 4.5% for the eleventh month in a row, the Bank of England has announced. The decision, by the Bank's Monetary Policy Committee, had been widely expected, however some analysts believe that rates could rise before the end of the year. In May, inflation rose to 2.
13 June 2014
Interest Rates Could Rise This Year
The Governor of the Bank of England Mark Carney has said that interest rates may rise this year and warned that "gradual and limited" increases would be needed as the economy recovers. Mr Carney made the comments during his first Mansion House speech on Thursday. It is understood that the base rate has been stuck at 0.
Interest Rates Could Rise This Year
The Governor of the Bank of England Mark Carney has said that interest rates may rise this year and warned that "gradual and limited" increases would be needed as the economy recovers. Mr Carney made the comments during his first Mansion House speech on Thursday. It is understood that the base rate has been stuck at 0.
05 July 2007
Interest rates hiked to 5.75%
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Interest rates hiked to 5.75%
Interest rates have risen by 0.25% to 5.75% in the fifth rise since August 2006. The Bank of England's Monetary Policy Committee said that the rise had been due to evidence that inflationary pressures remained "elevated.
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Northern Ireland WeatherToday:A mainly dry day with variable amounts of cloud and some bright or sunny intervals. Chance of the odd shower, especially in the south this afternoon. Warm across western counties. Maximum temperature 20 °C.Tonight:Some late sunshine this evening. Otherwise a cloudy night with patchy rain spreading west, becoming drier later on. Low and fog patches developing in the early hours. Minimum temperature 12 °C.
