14:29 PM, 8th January 2015, About 7 years ago 2
The Bank of England Monetary Policy Committee (MPC) have voted to hold the Base Rate for another month at 0.5%. It has been at this level since March 2009.
This is after inflation fell to a 12 year low recently to under 1% with predictions for it to fall even lower after the price of Oil dipped below $50 a barrel, from a high of nearly $116 in June.
Growth of GDP in the UK is slowing compared to expectation and in the EU we are seeing countries with deflation (negative inflation).
The Bank of England will publish voting records and reasons behind its latest policy decision on 21 January. However two out of the nine members of the MPC, Ian McCafferty and Martin Weale, voted for a rate rise in the last 5 months. It is now difficult to see where inflationary pressure is going to come from at the moment other than a continued drop in unemployment even if average earnings do not seem to be rising yet off the back of this.
We will have to see how Economics and Politics affects the price of oil in the coming months and if these reduced costs of supply can stimulate growth. Otherwise I can’t see any pressure on a rate rise this year unless we get lucky and there is a major global turn around.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
Previous ArticleTenant has died with no will and difficulties with next of kin
Next ArticleIs Broadband still necessary for HMOs ?
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|