Just Do Property



« | »

Bank of England interest rate stays at 0.5% while Banks increase Mortgages

The Bank of England announced today it’s decision on the interest rate and voted to leave the current historic low of 0.5% – which it has been since the introduced in March 2009.

They also decided to maintain the level of the Asset Purchase programme at £325 billion, which it expects to take a further 2 months to complete.

Many analysts generally expect the interest rates managed by the Bank of England to be maintain at 0.5%

However this has just come in the wake of Halifax and RBS increasing their standard variable rates (SVR) for mortgages by 0.5% and 0.25% respectively.

Ian McCafferty, chief economic adviser at the CBI business group, said:

“Since the MPC has been signalling that the current policy stance is broadly appropriate, it appears that the economic climate would have to deteriorate to prompt a further extension of QE.

“Nevertheless, with economic conditions fragile and the level of uncertainty high, monetary policy decisions are still likely to be finely-balanced,”

Alec Hanson



Related posts:

Why it's a good time to invest in UK property
Alan Forsyth from Property Secrets, explains why this is a good time to invest in UK property.
Mortgages could be capped to control house prices, says Bank Governor
The Bank of England could step in to curb mortgage lending amid fears Britain's booming housing mark...
House prices rose by 0.6% between August and September
The September Halifax House Price Index reports that house sales in the latest 3 months (April to Ju...

Posted by on March 9, 2012.

Tags: , , , , , ,

Categories: Bank Interest Rates

« | »




Recent Posts


Pages



About Just Do Property

About Us   You need to upgrade your Flash Player. Run by dynamic husband and wife team, Julie and Alec Hanson, justdoproperty.co.uk offers a one-stop online portal for everything property-related. Packed with guidance, support, ideas and products on how to build a property portfolio, justdoproperty.co.uk simply removes the need for tedious web surfing and research. […]more →