Interest rates - going down...
Posted on 14 November 2007 by
There have been renewed calls for an immediate cut in interest rates over the last few days, providing borrowers with a much needed boost before Christmas. Whether or not this will happen is almost anyone’s guess at present, but the minutes of this month’s meeting, due to be published next week, will be key in identifying the chances. If the vote was tight then there is clearly every chance that they may fall in December, but if it was still 8-1 in favour of a hold then I suspect that will filter through to December. We will just have to wait and see. What does appear to be clear now is the only way for interest rates now is down, which is always a welcome message in the majority of UK households.
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