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Bank Of England Interest Rate Decision

04th February 2016

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Well then, Bank of England Governor Mark Carney’s prediction that rate rises will come into focus “at the turn of the year” was all well and good at the time, but he didn’t specify which year.

Now, it sure doesn’t look like it will be this one given the latest decision to hold rates at the record low of 0.5% again.

In fact, with inflation predicted to stay below 1% for the remainder of the year and GDP growth revised down for the next 3 years, even serial dissenter Ian McCafferty has pulled back giving the MPC a 9-0 result on no change.

With no sign of any wage inflation it looks like the status quo will be maintained for a while yet, but with the City now predicting a 1 in 4 chance the next move could be a cut, well, you never quite know!

 

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Andrew Montlake

About Monty

Andrew Montlake, Director and Spokesperson for Coreco, gives his honest and forthright views on the mortgage market, economy and all things property related. Monty was voted "Mortgage Personality of the year 2008", "Best Press Spokesperson" in 2011 and is the current holder of the British Mortgage Awards “Best Marketeer” title. Expect expert analysis, delivered in a down to earth style with a side helping of exuberance.

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