Just Do Property



« | »

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

bank interest rates  : Bank of England interest rate stays at 0.5% while Banks increase Mortgages Image (51194873 bankofengland)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,”

bank interest rates  : Bank of England interest rate stays at 0.5% while Banks increase Mortgages Image (AlecSignature)



Related posts:

Expert predicts interest rates will not rise in the short term
Landlords  may be glad to hear one expert's prediction that interest rates are unlikely to rise in t...
The Beginner's Guide to Mortgages
A mortgage is the most important financial product you will get in your life-time, both in terms of ...
Nationwide sees continued momentum closing 2013
Nationwide HPI House Price Index at the end of 2013 reported seeing continued momentum in the closin...

Google+

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 →