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06/05/2004
UK interest rates rise by 0.25%
The Bank of England has raised interest rates by a quarter percentage point to 4.25% in an attempt to curb the British public’s spending boom.
The increase, the third quarter-point rise the Bank’s Monetary Policy Committee (MPC) has made in the past seven months, will leave homeowners repaying £15 a month more on a £100,000 mortgage.
Many analysts now believe that the cost of borrowing could rise to 5% by the end of the year.
Recent figures have shown that consumers are still borrowing and spending heavily. Net mortgage lending rose by £9.34 billion in March, while there was also a £963 million increase in borrowing by credit card, leaving consumers collectively owing £54.03 billion on "drastic plastic" lending alone.
House prices are also still rising steadily. The Halifax, the UK’s biggest mortgage lender, recently reported that house prices rose by 1.8% in April, with prices up 19.1% on last year.
UK inflation, which currently stands at 1.1%, is widely expected to rise above the Treasury’s 2% target over the next two years.
The only area of concern for the Committee was the state of UK manufacturing, after the first quarter GDP figures were weaker than expected, following poor industrial output numbers.
The Committee’s latest inflation and output projections will appear in the ‘Inflation report,’ which will be published on May 12.
The minutes of the MPC meeting will be published at 9.30am on May 19.
(KmcA)
The increase, the third quarter-point rise the Bank’s Monetary Policy Committee (MPC) has made in the past seven months, will leave homeowners repaying £15 a month more on a £100,000 mortgage.
Many analysts now believe that the cost of borrowing could rise to 5% by the end of the year.
Recent figures have shown that consumers are still borrowing and spending heavily. Net mortgage lending rose by £9.34 billion in March, while there was also a £963 million increase in borrowing by credit card, leaving consumers collectively owing £54.03 billion on "drastic plastic" lending alone.
House prices are also still rising steadily. The Halifax, the UK’s biggest mortgage lender, recently reported that house prices rose by 1.8% in April, with prices up 19.1% on last year.
UK inflation, which currently stands at 1.1%, is widely expected to rise above the Treasury’s 2% target over the next two years.
The only area of concern for the Committee was the state of UK manufacturing, after the first quarter GDP figures were weaker than expected, following poor industrial output numbers.
The Committee’s latest inflation and output projections will appear in the ‘Inflation report,’ which will be published on May 12.
The minutes of the MPC meeting will be published at 9.30am on May 19.
(KmcA)
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UK Inflation Remains At Current Rate
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UK Inflation Remains At Current Rate
According to the Office for National Statistics (ONS), UK Consumer Prices Index (CPI) inflation remained unchanged at 3.1% in September. Including a higher proportion of housing costs, the Retail Prices Index (RPI), fell back slightly to 4.6%.
07 September 2005
Halifax reports house prices rise
House prices rose by 1.6% in August, the UK’s biggest mortgage lender, has reported. However, the Halifax warned that the rise could be temporary, boosted by the recent interest rates cuts by the Bank of England. The price rise in August followed a modest 0.4% increase in July and was the biggest monthly rise since September 2004.
Halifax reports house prices rise
House prices rose by 1.6% in August, the UK’s biggest mortgage lender, has reported. However, the Halifax warned that the rise could be temporary, boosted by the recent interest rates cuts by the Bank of England. The price rise in August followed a modest 0.4% increase in July and was the biggest monthly rise since September 2004.
07 October 2015
Drop In UK House Prices Between August And September
The rise of UK house prices in the year to September has slowed down, according to research from Halifax. In its annual house price index, the banking chain reported house prices were 8.6% higher than in the same three months last year. Overall, the figure is 2% higher than between July and September, yet lower than the 9% rise recorded in August.
Drop In UK House Prices Between August And September
The rise of UK house prices in the year to September has slowed down, according to research from Halifax. In its annual house price index, the banking chain reported house prices were 8.6% higher than in the same three months last year. Overall, the figure is 2% higher than between July and September, yet lower than the 9% rise recorded in August.
05 August 2009
House Prices Rise By 1.1%
House prices rose by 1.1% in July, the second rise in the last three months, according to figures from Halifax. The average price of a house is now £159,623, 12.1% lower than the same time last year, but only 0.8% lower than at the beginning of 2009. So far this year, house prices have fallen by less than 1%.
House Prices Rise By 1.1%
House prices rose by 1.1% in July, the second rise in the last three months, according to figures from Halifax. The average price of a house is now £159,623, 12.1% lower than the same time last year, but only 0.8% lower than at the beginning of 2009. So far this year, house prices have fallen by less than 1%.
12 February 2008
Inflation On The Rise
UK inflation increased last month, rising to 2.2% from 2.1% in December. It is the fourth month in a row that that the Consumer Prices Index (CPI) inflation has remained above the government's 2% target and is the highest rate since June last year. The Retail Price Index (RPI), which includes mortgage interest payments, also rose to 4.
Inflation On The Rise
UK inflation increased last month, rising to 2.2% from 2.1% in December. It is the fourth month in a row that that the Consumer Prices Index (CPI) inflation has remained above the government's 2% target and is the highest rate since June last year. The Retail Price Index (RPI), which includes mortgage interest payments, also rose to 4.
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Northern Ireland WeatherThis Evening and Tonight:Rather cloudy and mainly dry at first, but showery outbreaks of rain soon extending westwards to most places during the night, turning heavier towards morning. Light winds. Minimum temperature 9 °C.
