News
18-Jan-08
A member of the Bank of England's Monetary Policy Committee (MPC) has hinted that he supports a cut to the base rate of interest sooner rather than later.Deputy governor of the Bank and MPC member Sir John Gieve hinted at his support for a reduction durin...
Market is stronger than it was in the 90s
18-Jan-08
We are not about to see a property price crash on the scale seen in the 1990s, according to one expert.CB Richard Ellis believes that prices will actually rise by around three per cent in 2008, reports the Telegraph.The firm is confident that prices will ...
Jobs stats won't postpone rate cut
18-Jan-08
The latest employment figures reveal that more people got themselves jobs in the three months to November 2007, but future projections point to less healthy times ahead.With this in mind, Dr John Philpott, chief economist at the Chartered Institute of Per...
Landlords receive tax returns reminder
17-Jan-08
People who own investment properties in London and elsewhere in the UK need to get their self-assessment tax returns in before the January 31st deadline.HM Revenue & Customs (HMRC) has warned landlords and other self-employed people not to miss the da...
London airport expansion will boost house prices
17-Jan-08
The value of properties close to London City Airport may increase as the hub expands.In the last 12 months, passenger numbers at the airport have increased by 23 per cent.However, although many people may see this as a negative thing for local homeowners,...
Brits overspend on home improvements
17-Jan-08
A quarter of Britons who carry out home improvement work underestimate how much the projects will cost.That is according to Halifax, which reveals that around one million people undervalue the expenses involved by approximately £4,500.It means that B...
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Print this articleFebruary rate cut looks evermore likely
15-Jan-08
There is a growing belief that the Bank of England's Monetary Policy Committee (MPC) will cut the base rate of interest in February.
It follows the publication of December's consumer price inflation (CPI) figure, which revealed that CPI stabilised in the month.
A figure of 2.1 per cent has been recorded, meaning that CPI stood just above the government's two per cent target.
According to Howard Archer from Global Insight, this points to an interest rate cut in February.
"The stabilisation in consumer price inflation in December keeps a February interest rate cut by the Bank of England very much on the cards, and we expect rates to be trimmed from 5.5 per cent to 5.25 per cent then," commented Mr Archer.
"The pace and extent of further interest rate cuts by the Bank of England will… depend critically on underlying inflationary pressures being contained by ongoing wage moderation and by companies' pricing power being diluted by slowing growth.
"We believe that this will happen, and that interest rates will be down to 4.5 per cent by the end of this year," he continued.
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