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05/07/2007
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."
The lending rate, now at the highest level since 2001, will mean mortgage misery for homeowners, but the Bank of England is keen to get inflation back under the 2% government target.
Mortgage lenders have continued to report rising house prices which have resulted in an annual rise above 10%. Though Wales reported a drop of 2.8%.
(SP/JM)
The Bank of England's Monetary Policy Committee said that the rise had been due to evidence that inflationary pressures remained "elevated."
The lending rate, now at the highest level since 2001, will mean mortgage misery for homeowners, but the Bank of England is keen to get inflation back under the 2% government target.
Mortgage lenders have continued to report rising house prices which have resulted in an annual rise above 10%. Though Wales reported a drop of 2.8%.
(SP/JM)
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10 May 2007
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.
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.
12 November 2003
Bank of England predicts 'modest' UK recovery
The Bank of England's latest quarterly report has forecast both growth in the economy and a rise in inflationary pressures within the economy. However, The Bank of England's Governor Mervyn King has warned that some homeowners may end up in a negative equity situation should UK interest rates continue to increase to hold inflation in check.
Bank of England predicts 'modest' UK recovery
The Bank of England's latest quarterly report has forecast both growth in the economy and a rise in inflationary pressures within the economy. However, The Bank of England's Governor Mervyn King has warned that some homeowners may end up in a negative equity situation should UK interest rates continue to increase to hold inflation in check.
17 October 2014
Bank Of England Suggest Interest Rates Will Remain Low
The Bank of England's chief economist, Andrew Haldane, has said that interest rates should "remain low to avoid long-term economic stagnation". In a speech to business leaders, Mr Haldane said that he was "downbeat" over the UK economy, due to weaker global trends, low wage growth and "financial and political risks.
Bank Of England Suggest Interest Rates Will Remain Low
The Bank of England's chief economist, Andrew Haldane, has said that interest rates should "remain low to avoid long-term economic stagnation". In a speech to business leaders, Mr Haldane said that he was "downbeat" over the UK economy, due to weaker global trends, low wage growth and "financial and political risks.
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