interest rate decision

ramborai1987

is the interest rate decision today?

Kazza242

ramborai1987 wrote: »

is the interest rate decision today?

Yes, the MPC will be making their decision today. I expect that rates will remain on hold at 5.75%.

purch

The meetings are typically the 1st Wednesday and Thursday each month

The next one's are

3 & 4 October 7 & 8 November 5 & 6 December

free4440273

it's a hold. prudent savers screwed yet again:mad:

Milarky

Kazza242 wrote: »

Yes, the MPC will be making their decision today. I expect that rates will remain on hold at 5.75%.

Agreed most likely outcome. In the short term, they don't now have to raise them, and they're not now going to drop them, either. See Jeremy Warner's comment in yesterday's Independent

re. "Has the Bank been asleep at the wheel?"
In the meantime, the Bank of England Governor, Mervyn King, can at least take comfort as he begins the Monetary Policy Committee's monthly meeting that if he was ever minded to raise rates again, he now won't have to. The three-month interbank rate is around 100 basis points higher than the Bank's base rate. The markets have done the work for him.

Incidentally, as someone posted here yesterday, there will/have recently been rate rises in retail savings rates even without the BOE moving theirs - which only affects 'tracker' accounts directly.

free4440273

5.75: it's a hold

ramborai1987

does this mean there will probably be a rate rise next decision? i wanted to put some money in a bond do you think its better to wait?

free4440273

ramborai1987 wrote: »

does this mean there will probably be a rate rise next decision? i wanted to put some money in a bond do you think its better to wait?

well, there is a great deal of debate on this forum as to whether rates on fixed rate bonds are attractive. they seem quite attractive on one-year bonds but less so on two/three year bonds. i am making a comparison between what i earned on my bond in 2004 and what i will earn now - and the difference is quite abysmal, especially when you take into account inflation and what BofE rates were then and now.

edit: inflation figures yet to come out so it's anybody's guess what BofE will do next month. even if inflation has gone up, they won't have the guts to raise rates IMO.