06/03/2008
Interest Rates Kept On Hold
The Bank of England is keeping interest rates on hold at 5.25%, the Monetary Policy Committee has announced.
Fears about rising inflation, along with increasing energy bills and rising oil and wheat costs, are believed to have prevented the committee from further lowering borrowing costs, following cuts in December and January.
Inflation is currently running above the government's target of 2% at 2.2%.
Meanwhile, figures released this week showed large rises in costs in the service sector.
The British Chambers of Commerce have called for a further interest rate cut in order to help businesses.
(KMcA/JM)
Fears about rising inflation, along with increasing energy bills and rising oil and wheat costs, are believed to have prevented the committee from further lowering borrowing costs, following cuts in December and January.
Inflation is currently running above the government's target of 2% at 2.2%.
Meanwhile, figures released this week showed large rises in costs in the service sector.
The British Chambers of Commerce have called for a further interest rate cut in order to help businesses.
(KMcA/JM)
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05 April 2007
Interest rates kept on hold
The Bank of England has voted to keep interest rates at 5.25% for the second month in a row. The decision is good news for borrowers, as there had been fears that interest rates would be increased to 5.5% this month. If this had happened, homeowners with an average £100,000 mortgage would have faced a rise of £16 per month on their repayments.
Interest rates kept on hold
The Bank of England has voted to keep interest rates at 5.25% for the second month in a row. The decision is good news for borrowers, as there had been fears that interest rates would be increased to 5.5% this month. If this had happened, homeowners with an average £100,000 mortgage would have faced a rise of £16 per month on their repayments.
09 June 2005
Interest rates remain at 4.75%
The Monetary Policy Committee for the Bank of England has left UK interest rates unchanged for the tenth month in a row. The decision to keep the interest rate at running, at 4.75% follows further uncertainty in the economy. Figures published today revealed that while there was slight monthly increase, 0.
Interest rates remain at 4.75%
The Monetary Policy Committee for the Bank of England has left UK interest rates unchanged for the tenth month in a row. The decision to keep the interest rate at running, at 4.75% follows further uncertainty in the economy. Figures published today revealed that while there was slight monthly increase, 0.
17 September 2013
Inflation Drops To 2.7% In August
A new measurement of the consumer price index (CPI) has shown the UK inflation has fallen to 2.7% in the year to August, down 0.1% since July. In the same period wages rose by 1.0%, revealing that prices are still rising faster than wages in the UK. There was a 3.3% increase in inflation measured by the retail price index (RPI), up from 3.
Inflation Drops To 2.7% In August
A new measurement of the consumer price index (CPI) has shown the UK inflation has fallen to 2.7% in the year to August, down 0.1% since July. In the same period wages rose by 1.0%, revealing that prices are still rising faster than wages in the UK. There was a 3.3% increase in inflation measured by the retail price index (RPI), up from 3.
08 September 2005
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.
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.
07 August 2008
Interest Rates Held
The Bank of England has kept interest rates at 5% for the fourth month in a row in a bid to balance slow growth and rising inflation. The Monetary Policy Committee's (MPC) primary goal is to reduce the current inflation rate of 3.8% to the Government target of 2%.
Interest Rates Held
The Bank of England has kept interest rates at 5% for the fourth month in a row in a bid to balance slow growth and rising inflation. The Monetary Policy Committee's (MPC) primary goal is to reduce the current inflation rate of 3.8% to the Government target of 2%.
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.