Interest Rate Decision
The Bank of England's Monetary Policy Committee have announced this lunchtime that UK interest rates will remain unchanged at 5.75%.
Watching a discussion on Bloomberg regarding the interest rate decision, it was interesting to see a representative of the Bank of Scotland suggesting that he thinks that there may be one more interest rate rise (to 6%) in the near future and that rates will then peak.
It's evident that the Bank of England are still concerned about inflationary pressure, particularly from rising oil and food prices. They've obviously taken the decision that another rate increase is not necessary right now though.
posted by Property Phil @ 11:55
3 Comments
3 Comments:
The right decision from them I reckon.
Certainly news that will come as something of a relief to those of us who have seen out mortgage payments rising in recent months.
People who are about to come to the end of fixed rate or capped deals may still be in for a nasty shock
Personally I think the decision is a disgrace.
House prices in this country are massively over-priced. Many young people simply cannot afford a home.
The sooner house prices crash the better. The MPC should be trying to bring inflation under control and a significant raise in interest rates would be the best way to achieve that.
I'd like to have seen a further rise, with the promise opf more to follow. Let's put and end to the inflation cycle that we're in and get house prices back to realistic levels.
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