Poll points to rate freeze

Posted: 02 May 2008 11:01:09 GMT

A new poll suggests that the Bank of England's Monetary Policy Committee (MPC) will wait until June before cutting the base rate of interest.

A new poll suggests that the Bank of England's Monetary Policy Committee (MPC) will wait until June before cutting the base rate of interest.

Nine of the UK's major financial institutions were questioned on May's rate decision, with all of them forecasting no change.

However, there is a growing belief that a reduction will be announced in June.

"Over the course of the last month or so the MPC is going to be more concerned about inflation coming from particularly the fall in Sterling and the UK events in the real economy," said Simon Hayes, UK economist at Barclays Capital.

"We haven't had such bad news on economic activity to justify a cut this month. But I do think they will cut next month or certainly within the next two months though," he continued.

Nationwide said that there is a 30 per cent chance that rates will be cut this month.

The MPC is due to announce its decision on May 8th.

© Houseladder Ltd

MORE UK PROPERTY NEWS: May 2008

New buyers told to sit tight  Posted: 16 May 2008 11:59:17 GMT
First-time buyers have been advised to sit tight if they find themselves in negative equity.

New buyers prefer terraced homes  Posted: 16 May 2008 11:58:43 GMT
A new report on terraced properties shows that the house type is the most popular among first-time buyers.

Govt expands Homebuy scheme  Posted: 15 May 2008 11:22:59 GMT
A new scheme has been launched by the government to help first-time buyers onto the property ladder.

New buyers seek intermediary advice  Posted: 15 May 2008 11:22:22 GMT
New figures show that first-time buyers are increasingly turning to mortgage intermediaries for advice.

Debate reveals confidence in housing market  Posted: 14 May 2008 11:23:02 GMT
A debate among experts on the UK housing market has revealed that the majority believe now is a good time to invest.

Now is a good time to buy  Posted: 14 May 2008 11:22:30 GMT
Homebuyers have been advised that now is a good time to enter the market.

Prime market going strong  Posted: 13 May 2008 11:02:12 GMT
The UK's prime property market continues to perform well despite the global credit crunch.

Region strategy for east of England receives mixed response  Posted: 13 May 2008 11:01:11 GMT
The government has published its Regional Spatial Strategy (RSS) for the east of England.

Financial advisors have a role to play  Posted: 12 May 2008 11:40:56 GMT
Independent financial advisors have a role to play in helping homeowners in financial difficulties.

Rise in millionaire households  Posted: 12 May 2008 11:40:14 GMT
A new report has revealed a substantial rise in the number of UK properties sold for at least £1 million.

Tory leader to speak on countryside housing issues  Posted: 09 May 2008 13:17:53 GMT
David Cameron is to give a speech on the future of the UK countryside.

Market conditions suit some investors  Posted: 08 May 2008 10:49:39 GMT
The collapse of investment company Inside Track should not be of concern to buy-to-let property investors who look to the long-term.

Rics calls for mortgage continuity  Posted: 08 May 2008 10:49:12 GMT
The Royal Institution of Chartered Surveyors (Rics) is keen to see more continuity in the mortgage market.

Buyers' market enables first-time buyers to drive a hard bargain  Posted: 07 May 2008 14:58:04 GMT
First-time buyers are forcing down property prices, it has been claimed.

Spending plans altered as credit crunch hits consumers  Posted: 07 May 2008 14:57:15 GMT
The credit crisis is impacting on people's spending habits, it has been revealed.

Buy-to-let market affected by credit crunch  Posted: 06 May 2008 13:23:34 GMT
A rise in the demand for rented accommodation has not been accompanied by an increase in the number of buy-to-let mortgage products on the market, it has been revealed.

Gazundering issue leaves Brits in a flux  Posted: 06 May 2008 13:21:05 GMT
UK homebuyers have strong opinions when it comes to the issue of gazundering - but many of them are conflicting, it has been revealed.

Govt needs to focus on empty homes  Posted: 02 May 2008 11:02:01 GMT
The government needs to look at bringing empty homes back into use if it is to meet its housing targets.

Poll points to rate freeze  Posted: 02 May 2008 11:01:09 GMT
A new poll suggests that the Bank of England's Monetary Policy Committee (MPC) will wait until June before cutting the base rate of interest.

SLS receives CML support  Posted: 01 May 2008 12:23:58 GMT
The Bank of England's Special Liquidity Scheme (SLS) has received support from the Council of Mortgage Lender.

Lenders and intermediaries remain upbeat  Posted: 01 May 2008 12:23:24 GMT
It appears that many mortgage lenders and intermediaries remain confident about the prospects for the housing market in 2008.

UK PROPERTY NEWS: Archives

2008 May
2008 April
2008 March
2008 February
2008 January
2007 December
2007 November
2007 October
2007 September
2007 August
2007 July
2007 June
2007 May
2007 April
2007 March
2007 February
2007 January
2006 December
2006 November
2006 October
2006 September
2006 August
2006 July
2006 June
2006 May
2006 April
2006 March