Archive for 2007

The Bank of England today voted to drop the base rate to 5.5% following indications that the economy is slowing. The reduction is good news for mortgage holders with the two big lenders Halifax and Nationwide dropping their rates promptly following the cut.

The Bank of England today voted to drop the base rate to 5.5% following indications that the economy is slowing. The reduction is good news for mortgage holders with the two big lenders Halifax and Nationwide dropping their rates promptly following the cut.

The Bank of England has voted to leave the base rate at 5.75% for the fourth month in a row. The last change was an increase of quarter of a percentage point to 5.75% on 5 July 2007.

A cut is expected in the near future, but it was widely recognised that there is insufficient pressure to cut the base rate just yet.

The Bank of England today voted to keep the base rate at 5.75%. The move was generally expected as the Bank needs to strike a balance between keeping inflation under control but also not increasing the cost of borrowing money further following the Northern Rock crisis. It is generally expected that the next move will be downwards, and not in the too distant future.

The Bank of England today voted to keep the base rate at 5.75% – the value it was raised to in July. This is good news for borrowers, after five rate increases in the last year. However, many commentators are expecting another rate rise before the end of 2007. This is because the Consumer Price Index at 2.4% – above the government’s target of 2.0%.