Interest rate cuts could be put on hold

At the start of this year there were high hopes about base rate cuts amongst both borrowers and industry officials, with many expecting the base rate to fall significantly over the course of this year, and with some industry officials predicting that the base rate could fall as low as 4% or below by the end of the year. However, whilst the base rate was cut three times between December 2007 and April of this year, it seems that further rate cuts could be put on hold, as the Bank of England tries to deal with soaring inflation levels. Read more

Tags: recent additions, Mervyn King, present steps, time, foreseeable future, interest rates, government’s 2% target, Monetary Policy Committee