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11/01/2002
Bank Of England holds firm on interest rates
Interest rates are holding steady at 4 per cent, despite fears that increasing house prices and High Street sales could lead to a rise in inflation.
Ignoring calls from the manufacturing sector, the Bank held firm at 4 per cent in a move that received a mixed reception from analysts, with some describing the move as signing a “death warrant” for thousands of jobs throughout the UK.
“With unemployment rising, inflation in check and significant parts of the economy slowing, raising rates should be well off the radar,” commented Stephen Radley, chief economist of the Engineering Employers’ Federation
However, other financial experts disagreed with that assessment, saying that steadied interest rates came as no surprise, with the emphasis now on possible increases during the year ahead.
Ruth lea, head of the Institute of Directors policy unit added: “We do not, on the whole, expect further cuts in interest rates unless there is rapid deterioration on economic activity.”
Recently, the governor of the Bank of England, Sir Edward George indicated that an increase in credit card borrowing could see interest rates rising. This is due to the heightened risk of increased prices following the recent high street spending spree, which saw double the amount of sales made in December 2000. (CL)
Ignoring calls from the manufacturing sector, the Bank held firm at 4 per cent in a move that received a mixed reception from analysts, with some describing the move as signing a “death warrant” for thousands of jobs throughout the UK.
“With unemployment rising, inflation in check and significant parts of the economy slowing, raising rates should be well off the radar,” commented Stephen Radley, chief economist of the Engineering Employers’ Federation
However, other financial experts disagreed with that assessment, saying that steadied interest rates came as no surprise, with the emphasis now on possible increases during the year ahead.
Ruth lea, head of the Institute of Directors policy unit added: “We do not, on the whole, expect further cuts in interest rates unless there is rapid deterioration on economic activity.”
Recently, the governor of the Bank of England, Sir Edward George indicated that an increase in credit card borrowing could see interest rates rising. This is due to the heightened risk of increased prices following the recent high street spending spree, which saw double the amount of sales made in December 2000. (CL)
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08 January 2004
UK Interest rates sticks at 3.75%
As expected, the Bank of England has decided to hold the base rate at 3.75% today. The Bank's Monetary Policy Committee (MPC) opted to hold the rate following a quarter point rise in December - the first rise in four years. However, analysts are continuing to warn consumers that rises are imminent in the year ahead.
UK Interest rates sticks at 3.75%
As expected, the Bank of England has decided to hold the base rate at 3.75% today. The Bank's Monetary Policy Committee (MPC) opted to hold the rate following a quarter point rise in December - the first rise in four years. However, analysts are continuing to warn consumers that rises are imminent in the year ahead.
04 September 2001
Bank likely to leave interest rate unchanged
The Monetary Policy Committee (MPC) of the Bank of England are likely to leave interest rates unchanged at 5 per cent. The Committee are due to begin their latest two-day meeting amid a spate of calls for another cut in the interest rate.
Bank likely to leave interest rate unchanged
The Monetary Policy Committee (MPC) of the Bank of England are likely to leave interest rates unchanged at 5 per cent. The Committee are due to begin their latest two-day meeting amid a spate of calls for another cut in the interest rate.
07 March 2011
IMF Announce Interest Cut For Ireland
Despite an announcement to the contrary by the German Chancellor on Thursday, Ireland's bailout interest rate is set to decrease.
IMF Announce Interest Cut For Ireland
Despite an announcement to the contrary by the German Chancellor on Thursday, Ireland's bailout interest rate is set to decrease.
02 March 2011
Draft Bank Resolution Legislation Published
The Government has on Tuesday published draft legislation fulfilling a commitment made as part of the EU – IMF financial assistance package. The bill, entitled the Central Bank and Credit Institutions (Resolution) Bill 2011, has been laid before the Oireachtas.
Draft Bank Resolution Legislation Published
The Government has on Tuesday published draft legislation fulfilling a commitment made as part of the EU – IMF financial assistance package. The bill, entitled the Central Bank and Credit Institutions (Resolution) Bill 2011, has been laid before the Oireachtas.
03 October 2001
Mixed signals from UK economy indicators
With the CBI reporting that retail sales in September grew at their fastest rate for five years in addition to other important indicators revealing a fall in activity in the service sector, the UK economy is showing signs of further fragmentation.
Mixed signals from UK economy indicators
With the CBI reporting that retail sales in September grew at their fastest rate for five years in addition to other important indicators revealing a fall in activity in the service sector, the UK economy is showing signs of further fragmentation.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
