 UK economy |
| Search News |
|
|
| Find an IFA |
|
|
| Browse |
|
| UK Spotlight |
Just when many analysts had come to terms with the 3.5% rise in retail sales in May and the fact this did not seem correct, June has seen a fall of 3.9% in sales – the worst fall in 22 years. The...
→
Read More
|
|
| Disclaimer |
| Financialadvice.co.uk adheres to the Financial
Services and Markets Act 2000. This site contains only factual and
readily available public information. |
|
|
|
0% Credit Card
Finding a 0% credit card is simple when you visit uSwitch. You can see all the latest 0% credit card suppliers online. uSwitch makes getting a new credit card simple.
|
|
|
|
|
|
Wednesday 9th April 2008
Analysts are tipping the Bank of England's monetary policy committee (MPC) to cut interest rates this week, amid signs of an economic downturn.
The MPC is expected to trim rates by 0.25 per cent, bringing the key base rate of interest to five per cent.
Factors informing the decision are thought to include signs that the housing market is softening - as born out by a study from the Halifax yesterday which showed that house prices slumped 2.5 per cent during February.
Indications that retail spending is moderating are also expected to influence the MPC.
Richard Lambert, director of the Confederation of British Industry, said: "Despite the MPC's attempts to loosen monetary policy through two recent interest rate cuts, the credit crunch is pushing interbank and mortgage lending rates up, which is constraining economic activity and demand.
"The Bank should make a quarter point cut now, rather than later, to help hard-pressed businesses and consumers."
The Bank has cut interest on two occasions since December.
|
→ Full UK economy News Archive
→ Return to Homepage |
|
|
|
| Other top stories in this section:
|
|
|
|
.gif)
(1).gif)
.gif)
