- Thursday, October 9, 2008, 17:23
- Interest Rates
The Bank of England cut interest rates yesterday for the first time since April. The committee voted to reduce the rate by half a per cent to 4.5%. Economists hope the rate cut will stimulate the housing market, ease global monetary conditions and inject some stability into the stock market.
A statement released by the BoE stated that:
"In the United Kingdom, CPI inflation rose to 4.7% ...
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- Tuesday, April 22, 2008, 11:35
- Mortgages
There are high hopes that the Chancellor’s intervention by way of a £50 billion mortgage bailout will help to re-stabilise financial markets and bring about the end of the beginning of the UK credit crunch.
Yesterday the Bank of England unveiled a £50 billion scheme designed to restore confidence into the ailing mortgage market. The plan, announced by the Chancellor, Alistair Darling, will allow banks to ...
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- Thursday, February 7, 2008, 13:49
- Loans, Mortgages, Personal Finance
The Bank of England's Monetary Policy Committee has voted to reduce interest rates to 5.25% this morning. The second rate drop in three months, today's vote was in response to growing evidence of an economic downturn, combined with the increasing risk of inflation in the coming months as global financial markets face further uncertainty and borrowing conditions for consumers and businesses tighten. Higher energy and ...
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Yesterday the Bank of England’s Monetary Policy Committee voted to maintain interest rates at 5.5%, to the surprise of many economists who had been predicting a further drop following that made in December. Until the minutes of the meeting are published later in the month it remains to be seen how close the vote was, but the general consensus is that it may have been ...
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- Friday, January 4, 2008, 16:03
- Mortgages, Personal Finance
Like many homeowners, I have been watching the predictions regarding interest rates and economic change during 2008 with great interest, particularly the endless speculation over the future of the housing market. Many economists are predicting as many as four interest rate drops during 2008, which will relieve some of the pressure on banks’ access to funding, which should in turn make borrowing more affordable for ...
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The Bank of England has today reported a reduction on the availability of secured credit to households over the last three months, and expects the same to continue over the first quarter of 2008. What does this mean for consumers? In a nutshell: that secured lending is becoming harder to access due to more stringent lending criteria. Economists are predicting this will spur an interest ...
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