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BOE Keeps Interest Rates on Hold Whilst the ECB raises to 3.25%

Interest-Rates / UK Interest Rates Oct 05, 2006 - 05:00 PM GMT

By: Phillipa_Green

Interest-Rates The Bank of England held UK base rates at 4.75% today as expected, whilst the European Central Bank raises to 3.25%.


Even though an interest rate rise was not expected today, the city was nervous after the unexpected rate rise in August. The minutes will reveal how close we came to a rise this month, a split decision would mean a November rise is a near certainty. With interest rate futures pricing in a rise to 5%. As inflation at 2.5% (CPI) is above the 2% target and expected to rise further towards the danger level of 3%, thus making a future rates rise inevitable and most likely next month (November)

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Comments

CliffV
09 Oct 06, 01:59
Re: BOE Keeps Interest Rates on Hold Whilst the ECB raises to 3.25%

I agree a November rise seems a done deal.


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