Sell or let your house privately online
Houseladder.co.uk
 
News Categories
News Archives
100s of Tips To Help You Save £1000s.
Essential Reading For ALL Buyers, Sellers & Landlords!
Claim Your FREE Ebook worth £47 NOW >>>
Find Out More >


Property News - Base rate likely to be held

Base rate likely to be held

Posted: 03 Oct 2007 10:57:48 GMT

The base rate of interest is likely to be held in October, according to a leading economist.


The base rate of interest is likely to be held in October, according to a leading economist.

Trevor Williams, chief economist at Lloyds TSB, has forecast that the Bank of England will maintain rates at their current level.

It comes after two consecutive months without movement which followed five rate rises since August 2006.

"Despite the ongoing turmoil in world markets, we're almost certain to see the Bank of England hold rates this week," said Mr Williams.

"The housing market has proved remarkably resilient to the interest rate increases seen so far and is only just starting to slow down. Moreover, the economy remains pretty robust, with growth and retail sales figures both still strong, meaning a rate cut is almost certainly ruled out.

"However, with inflation comfortably under its two per cent target, wage inflation rising slowly - at 3.5 per cent year on year - and continuing turbulence in the credit markets, it is equally certain there will not be a rise," he continued.

The Bank's Monetary Policy Committee (MPC) is due to make an announcement on October 4th.

© Houseladder Ltd




MOST POPULAR

FREE Property Advert
Selling or Letting? List Your Property FREE Now!

FREE eBook worth £47
How To Sell Or Let FASTER and Save £1000s

FREE House Prices
How much did next door sell for. Plus are prices going UP or Down in Your Town

MOST POPULAR

FREE Property Advert
Selling or Letting? List Your Property FREE Now!

FREE eBook worth £47
How To Sell Or Let FASTER and Save £1000s!

FREE House Prices
How much did next door sell for? Plus are prices going UP or Down in Your Town!

Mortgage Help
Free Quote & Advice.
Remortgages, Adverse, CCJ, Equity Release.

Home Insurance
Compare Buildings and Contents Insurance. Get a Quote Now!

Home Information Packs
Now law for all new properties to market. Do You Need A HIP?

Conveyancing
Get a Quote and Save £100s.

Tenancy Agreement
Get Your Tenancy Agreement Here.

Tax Guides
How To Avoid Property Tax and Save £1000s