The Bank of England has decided to keep interest rates at 0.5 per cent amid apparent concerns over the strength of the economic recovery.The bank's Monetary Policy Committee (MPC) voted to freeze the base rate for the 18th straight month in its meeting today (August 5th). Despite the rapid second quarter growth in GDP (1.1 per cent), many economists have predicted this to fall again throughout the year and the MPC appears to be in agreement with them. David Kern, chief economist at the British Chambers of Commerce, claimed the austerity measures announced in the Budget will only increase the likelihood of another setback. He said: "Given the precarious economic background, it is absolutely vital that the MPC maintains the current low level of interest rates until the second quarter of 2011 at the earliest." The sole MPC member who has expressed his desire for a rise in interest rates is Andrew Sentance, who has voted for an increase for the past two months. Posted by Amir HussainAmir specialises in personal loans, consumer debt and debt management
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated
claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk/search.aspx
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233,
whose head office and registered office is at Suite 2, Unit 25, The Coda Centre,
Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office. Registration number Z1728023
and holds a Credit Consumer License issued by the Office of Fair Trading license
Please note that calls may be recorded and email traffic monitored for the purposes
of security and staff training.
* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are
no upfront costs to pay. Our fee only becomes payable on a successful outcome of
a claim. A cancellation fee is payable if you decide that having instructed Belmont
Thornton to act on your behalf, and after 14 days of signing your Letter of Authority,
you do not wish to continue pursuing your claim with us. The cancellation fee is
the reasonable costs incurred for the work undertaken. Please see our terms of engagement.
By using our web-site, you agree that we can place the types of cookies described