Rate rise on the cards
www.moneynews.co.uk > Housing market > Rate rise on the cards
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Money News |
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Rate rise on the cards
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All nine members of the interest rate setting Monitory Policy Committee voted for a rates freeze, but details of what was said suggest that for some members the decision was "finely balanced".
Minutes stated: "To raise the repo rate at this month's meeting would be a surprise, which might prompt an unwarranted re-evaluation of the committee's strategy by market participants and might as a result generate further upward pressure on sterling."
But some members raised concerns that continuous house price strength and debt levels meant the need for a rise was increasing and that by delaying a rise now could lead to an ever bigger one later on.
A rate rise could see mortgage contributions rise for all consumers without a fixed rate deal.
Since the meeting, on the first Thursday of the month, some economic indicators have pointed away from a rates rise.
Recent below target inflation figures might mean rates stay on hold for another month or two.
Related News : Housing market |
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