Archive for the 'Interest Rates' Category

Despite some suggestion that the rate may have risen again this month, the Bank of England has today voted to keep the base rate at 5.25%.

This should please those on variable rate mortgages, while those soon coming to the end of 3yr fixed rate deals may have to find more money each month since the base rate was at 3.75% 3 years ago.

The Bank will release minutes from the meeting on 21st Feb, which will contain the vote spread across the members of the rate setting committee. This is often a good indicator for which way the rate is likely to head in the future.

In an unexpected move, the Bank of England today increased the base rate to 5.25%. After the two recent quarter point increases, commentators were not generally expecting any movement so early in 2007.

A quarter point rise will cause an increase of £16 to a 25 yr £100,000 repayment mortage's monthly payments, while an interest only mortgage would increase by nearly £21.

The rise is believed to be an early reaction to a further increase in inflation - which rose to 2.7% recently.

The Bank of England have voted on the base rate this month, and have chosen to keep the rate at 5%.

This was widely expected by analysts after the base rate having having two 0.25% rises in the last 4 months.

The Bank of England has today raised the base rate to 5%. The increase was widely expected, and is aimed to help bring inflation down to more acceptable levels.

The rise to 5% brings the base rate to its highest level in five years.

Opinion is split over further rises in the base rate in the new year.

The Bank of England has announced its decision for October - it has decided to keep the base rate at 4.75%. This decision was expected, although market commentators are expecting another quarter point rise in the not too distant future.