Bank Rate May Rise Sooner Than Thought!

Tuesday, 19. October 2010

Hi, Graham Hill here, thank you so much for visiting my blog, I hope you learn a lot and as a result end up driving a great car. In order to do so you can get all the information you need by buying my book, An Insider Guide To Car Finance or use me to finance your next car. Happy driving.
The Bank of England in Threadneedle Street, Lo...
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Andrew Sentance may not be a name that you have come across before but he is very important in our lives. He sits on the Monetary Policy Committee in the Bank of England. They sit each month and decide whether base rate should stay the same, at 0.5% or increase. Since the rate dropped to 0.5% every member of the committee has voted to keep it at the same level, that is until the October meeting at which Mr Sentance voted to increase the rate by 25 basis points. Could this be the beginning of a change in attitude of the committee and could we see a rise in the interest rate. It really depends how the spending review is accepted so it will be interesting to see how the committee vote next month. Could this be the end of the longest unchanged bank rate since the second world war? Very fragile times. Do you think bank rate will increase before the end of the year? By Graham Hill

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