The treasury borrowed less than expected in November, as a previous reduction in inflation pushed down interest rates on government bonds. Economists had predicted public sector net borrowing last month would be about £13bn. But figures from the Office for National Statistics (ONS) show the sum was actually £11.2bn. Borrowing is the difference between public … Continue reading UK govt borrowing less than expected in good news for chancellor
While the Bank of England's decision to keep interest rates at 4.75% was not surprising, mortgage experts have warned that it could "trigger some negative responses". David Hollingworth, associate director at L&C Mortgages, said markets are anticipating that stubborn inflation may hold back the pace of any base rate cuts next year. "I expect mortgage lenders … Continue reading What do UK mortgage experts think of latest interest rate decision?
The Lao central bank, the Bank of the Lao PDR (BOL), is set to further increase interest rates to alleviate inflationary pressures currently affecting the economy. The bank's Monetary Policy Committee has decided to raise the interest rate on Lao currency kip from 10 percent to 10.5 percent per year. The interest rate on foreign … Continue reading Why Laos is raising interest rates
US consumers are becoming increasingly worried about the trajectory of the US economy amid sticky inflation and the prospect of high interest rates for longer than initially hoped. The latest University of Michigan consumer sentiment survey released Friday revealed a 13% decline in overall sentiment during the month of May. The index reading for the … Continue reading Americans worrying about inflation, high interest rates
When will interest rates be cut? The Bank of England will announce its latest base rate decision on Thursday lunchtime - but no one is expecting a cut from the current 5.25%. It's widely thought rates have reached their peak - they've been at their highest level for 16 years since August. But market forecasts … Continue reading When will the Bank of England announce interest rates?
Bank of England governor Andrew Bailey has said that UK inflation data from recent months was "quite encouraging". During a House of Lords committee meeting yesterday, he also said interest rates could start to fall soon - but interestingly, he predicted they will stay above 2% for years to come. Mr Bailey said rates were … Continue reading Bank of England: Interest rates to remain above 2% for years
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