Monthly Archives: April 2015

Bank base rateUK interest rates have been held at 0.5% for another month by the Bank of England.

The decision by the Monetary Policy Committee comes more than six years after the record low was introduced.

The half-dozen years of ultra-low interest rates have cut returns on savings, while mortgage borrowers have reaped the benefits of lower repayments.

Rates have been at a record low for the entire Coalition government period.

Expectations of a rise any time this year have been put on hold with Consumer Price Index (CPI) inflation at zero.

Meanwhile, purchasing managers’ index (PMI) surveys earlier this week showed accelerating growth in manufacturing and services sectors last month, but construction losing momentum.

The MPC has indicated rates could be reduced further, should low inflation persist longer than expected.

However, comments from most Bank policymakers suggest they still expect the next move in rates to be upwards.

The Bank left the scale of its quantitative easing (QE) programme to boost the money supply unchanged at £375bn.

It will release the minutes of the April meeting in just under two weeks’ time.

TestimonialWe were not the easiest of clients with the easiest of requirements but Kevin found us a product that suited us after a lot of hard work on his part! We would not hesitate to recommend Kevin at Park Gate Mortgages.