UK interest rates frozen at 4.75%

lipidicman

Well this was no surprise:

The Bank of England has left UK interest rates on hold at 4.75% for the eighth month running at the end of its latest rate-setting meeting.

however this is slightly more interesting:

"We still think a quarter point rise will come by June," said Graeme Leach, chief economist at the Institute of Directors (IoD).

But some economists are speculating that the next rate move will be down instead of up given that inflation is below the government's target while the retail sector is still struggling.

"The events of the last month and today's decision to leave interest rates on hold at 4.75% support my longstanding forecast that interest rates are currently at their peak and could soon begin to fall," said Roger Bootle, economic adviser at Deloitte & Touche.

source: bbc website

A fall? this is a disaster!

robnye

lipidicman wrote:

source: bbc website

A fall? this is a disaster!

not if you have a mortgage........

lipidicman

That's why I posted in the saving section of the forum! Thankfully I am (non-0%) debt free!

isasmurf

As the next announcement was due on 5th May - the same day as the election - the bank will now meet on the day after the election and announce on Monday 9th May

Paul_Varjak

isasmurf wrote:

As the next announcement was due on 5th May - the same day as the election - the bank will now meet on the day after the election and announce on Monday 9th May

What would have happened if the Pope's funeral, Jim Callaghan's funeral, Prince Raniers funeral, Prince Charles' wedding and the election had also been held on the same day?

deemy2004

It would be great time for Labour to release more bad news about the economy... Oh the did that on Sept 11th....!

dougk_2

Paul_Varjak wrote:

What would have happened if the Pope's funeral, Jim Callaghan's funeral, Prince Raniers funeral, Prince Charles' wedding and the election had also been held on the same day?

There would be a choice of things to watch on TV for a change!