Please select a service we provide from the menu.
Login to retrieve or track an existing case.
Interest rates kept at 5%
09/05/2008
Interest rates are to be held at five per cent, the Bank of England has announced.
The hold is thought to be due to inflationary pressures which have been amplified by rising fuel and food costs.
Ian McCafferty, chief economic advisor for the Confederation of British Industry, told the BBC that the move was "no surprise" although it would have been a "difficult decision" for the bank.
Chief economist for the EEF, a body which represents that manufacturing industry, Steve Radley told the BBC that further cuts were inevitable and claimed that "further cuts to interest rates are needed to prevent the economy from drifting towards recession".
Solicitors in Northern Ireland can offer advice and support to homeowners struggling with mortgage repayments.
Last month it was revealed that one member of the monetary policy committee, David Blanchflower, had pressed for rates to be cut by 0.5 per cent.
The most recent change in the base rate was a reduction of 0.25 per cent to its current level of five per cent on April 10th.
Analysts are predicting that there will be another cut in rates to 4.75 per cent in June.
Get a quote for residential property legal services
The hold is thought to be due to inflationary pressures which have been amplified by rising fuel and food costs.
Ian McCafferty, chief economic advisor for the Confederation of British Industry, told the BBC that the move was "no surprise" although it would have been a "difficult decision" for the bank.
Chief economist for the EEF, a body which represents that manufacturing industry, Steve Radley told the BBC that further cuts were inevitable and claimed that "further cuts to interest rates are needed to prevent the economy from drifting towards recession".
Solicitors in Northern Ireland can offer advice and support to homeowners struggling with mortgage repayments.
Last month it was revealed that one member of the monetary policy committee, David Blanchflower, had pressed for rates to be cut by 0.5 per cent.
The most recent change in the base rate was a reduction of 0.25 per cent to its current level of five per cent on April 10th.
Analysts are predicting that there will be another cut in rates to 4.75 per cent in June.
Get a quote for residential property legal services
Bookmarks
