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Interest rates are likely to remain unchanged
There is good news for those who are loan seekers. A report suggested that interest rates are likely to be unchanged until the end of the year. However, Accountancy and business advisory firm BDO Stoy Hayward suggested the likelihood despite the fact that consumer price inflation hit 2.2 % in May, above the Bank of England's 2 % target.
London (loans-bazaar) July 06 2006: Anyone planning to take out a loan has good news that interest rates are likely to continue the same until the end of the year. Accountancy business advisory firm BDO Stoy Hayward reiterated the speculation despite consumer price inflation of 2.2% in May, above the Bank of England's 2% target. With inflation above targets, there is fair chance of increase in interest rates. The company has predicted an average growth of 3.5% in the fourth quarter of year 2006.
Peter Hamington, partner at BDO Stoy Hayward has said that there was speculation about whether interest rates will go up in July in order to match growing price rises. He continued that MPC (Monitory Policy Committee) will just wait and observe until the end of the year. This step would allow the committee to assess the full impact of latest fluctuations in the financial markets on the UK economy and monitor any future fall in the value of the dollar.
Douglas McWilliams, chief executive of the centre for economics and business research, added that since Bank of England facing inflation situation this year, it is very unlikely that interest would change whereas the pace of economic growth still remains uncertain.
Related News:
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There is good news for those who are loan seekers. A report suggested that interest rates are likely to be unchanged until the end of the year. However, Accountancy and business advisory firm BDO Stoy Hayward suggested the likelihood despite the fact that consumer price inflation hit 2.2 % in May, above the Bank of England's 2 % target.
London (loans-bazaar) July 06 2006: Anyone planning to take out a loan has good news that interest rates are likely to continue the same until the end of the year. Accountancy business advisory firm BDO Stoy Hayward reiterated the speculation despite consumer price inflation of 2.2% in May, above the Bank of England's 2% target. With inflation above targets, there is fair chance of increase in interest rates. The company has predicted an average growth of 3.5% in the fourth quarter of year 2006.
Peter Hamington, partner at BDO Stoy Hayward has said that there was speculation about whether interest rates will go up in July in order to match growing price rises. He continued that MPC (Monitory Policy Committee) will just wait and observe until the end of the year. This step would allow the committee to assess the full impact of latest fluctuations in the financial markets on the UK economy and monitor any future fall in the value of the dollar.
Douglas McWilliams, chief executive of the centre for economics and business research, added that since Bank of England facing inflation situation this year, it is very unlikely that interest would change whereas the pace of economic growth still remains uncertain.
Related News:
One in ten tenants owe a year's wages
Personal loans for surgery on the rise.
