Rates Held at 4.75%
The Bank of England Base Rate stays at 4.75% for the eighth month in a row
7th April 2005
The Bank of England's Monetary Policy Committee (MPC) has left interest rates at 4.75%, the eighth consecutive month it has decided not to change the base rate.
Analysts widely accept that there is no need for a change, as the economy is basically strong with low inflation but a slowdown in consumer spending.
The MPC is responsible for manipulating the interest rate to control consumer spending in order to keep inflation below a government-set target.
Read More: BBC Your Money
|
More on Interest Rates : Mortgage Approvals Up Again (News, 28/09/2005), Weak Growth Prompts Rate Cut Prediction (News, 28/09/2005), Lenders Slow to Pass On Rate Cut (News, 11/08/2005), Interest Rates Reduced (News, 04/08/2005), No Change In Interest Rates (News, 09/05/2005), See all 11 Interest Rates stories >>> |
Home - Mortgages
