Rates held by Bank

Posted: 14 Apr 2009 11:57:12 GMT

The Bank of England's (BoE) Monetary Policy Committee has voted to hold interest rates at their current level, offering stability for those buying a property.

The decision, made on Thursday (April 9th), means that, for the first time in seven months, interest rates have remained stationary.

Such a decision was largely expected by commentators and it is believed that as the rates cannot go much lower, the rates will remain at 0.5 per cent for some time, offering some stability in the mortgage market over the next few months.

A statement from the BoE said: "The Committee also voted to continue with [quantatitive easing], announced on March 5th, of asset purchases totalling £75 billion financed by the issuance of central bank reserves.

"The Committee noted that since its previous meeting a total of just over £26 billion of asset purchases had been made and that it would take a further two months to complete that programme."

Property sellers hoping to take advantage of the slight confidence boost in the market may wish to sell their home online, in order to attract the highest number of potential buyers.



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