This year’s budget wasn’t the most exciting, but in the current financial climate, you could hardly expect it to be. With businesses and consumers finding borrowing more and more difficult, as banks reduce their lending following the credit crunch, and as the cost of electricity, gas, petrol and food continue to rise, we’re all finding […]
You’re probably aware that interest rates have risen once again, up 0.25% to 5.75%. This is the highest rates have been since March 2001. The graph below shows how rates have changed over the past 10 years: I think one of the key things to look at is the difference between the rates as they […]
Interest rates have been put up again, rising a further 0.25% to 5.5%.
As inflation is currently running above the government’s target, it’s more than likely that rates will go up again next month, probably by 0.25%, although there is an outside chance they will rise by 0.5%.
Interest rates have been kept at 5.25% for this month, although there are still thoughts that rates will rise again in the next few months. But how do interest rate changes affect the average person? I’ll explain in very simple terms: When rates fall, there is less incentive for people to save their money – […]
The Bank of England has decided to keep interest rates at the same level (5.25%) this month, after last month’s surprise decision to raise the rates. As I mentioned yesterday, many experts expert more rate rises before the summer, following the 3 previous 0.25% rises in the last 6 months. Those with variable rate interest […]
The Bank of England will announce the fate of interest rates again tomorrow, and there’s plenty of speculation that rates still have some chance of upward movement yet to go. Reuters surveyed 62 economists, of which just 5 thought that rates would rise this month, yet another 46 predicted rates to rise again before the […]
IT’S FAIR to say most people were taken by surprise when interest rates were raised to 5.25 per cent on Thursday – taking the base rate to its highest level in five and a half years.
Consumers looking to compare credit cards and transfer an outstanding balance are being alerted to news from Yorkshire Bank and Clydesdale Bank.
Some 53 per cent of homeowner loans held with building societies will not be affected by the Bank of England’s (BoE’s) recent base rate rise, it has been claimed.