Credit, Collections & Insolvency News
The Bank of England has held the base rate at 4% which affects a wide range of consumer loan agreements from credit card to mortgage payments. Commenting on the MPC’s decision not to change the Bank Rate from 4%, Andrew Gall, Head of Savings and Economics at the Building Societies Association (BSA) said “Many aspiring homebuyers…
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The Bank of England has maintained interest rates at 4% following a close vote by the Monetary Policy Committee (MPC). The rate-setting Monetary Policy Committee voted in a 5-4 split in favour of holding the rate, with four members preferring to cut rates by 0.25% to 3.75%. Commenting on the Bank of England’s decision to hold…
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The Bank of England Monetary Policy Committee (MPC) has voted to hold interest rates at 4.0%. Commenting on the MPC’s decision not to change the Bank Rate Paul Broadhead, Head of Mortgage and Housing Policy at the Building Societies Association said “CPI Inflation has remained elevated at 3.8% and is expected to stay higher for…
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The Bank of England Monetary Policy Committee (MPC) has voted to hold interest rates at 4.0%. The MPC voted 7 to 2 in favour of the hold, with two dissenting member preferring to cut rates by 0.25% to 3.75%. Commenting on the MPC’s decision not to change the Bank Rate from 4.00%, George Lagarias, Chief Economist at…
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The Bank of England has cut interest rates to 4%, with the cut from 4.25% marking the fifth reduction since August 2024. The Bank of England’s Monetary Policy Committee (MPC) voted 5:4 for a cut. One voted for a 0.5% cut and four voted for rates to be held. Responding to the news, Federation of…
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The Bank of England’s Monetary Policy Committee (MPC) has voted to reduce the base rate from 4.25% to 4%. The MPC voted 5 to 4 in favour of the move, with the dissenting members preferring to leave rates unchanged at 4.25%. Commenting on the change, Ryan McGrath, Director of Second Charge Mortgages at Pepper Money, said “Interest rates…
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The Bank of England Monetary Policy Committee (MPC) has voted to hold interest rates at 4.25%. The MPC voted 6 to 3 in favour of leaving rates unchanged, with 3 members preferring to cut rates to 4.0%. Responding to the Bank of England’s Monetary Policy Committee’s vote to keep the base rate at 4.25%, Tina…
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The Bank of England has cut interest rates from 4.5% to 4.25%. Responding to the announcement, Suren Thiru, ICAEW Economics Director said “This cut in interest rates is a timely shot in the arm for those businesses struggling to adjust to last month’s substantial spike in business costs and households contending with burdensome mortgage costs.…
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The Bank of England has announced that it has reduced the Bank Rate by 0.25% to 4.25%, marking the second cut this year. The MPC voted 5 to 4 in favour of the cut, with two members preferring to cut rates by 0.5% to 4.0% and two preferring to leave rates unchanged at 4.5%. Commenting on the…
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The Bank of England has announced that it has held the base rate at 4.5%. The rate-setting Monetary Policy Committee voted in a 8 to 1 split in favour of holding the rate, one member preferred to reduce the bank rate by 0.25 percentage points, to 4.25%. The bank rate was cut from 4.75% to…
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The Bank of England Monetary Policy Committee (MPC) has voted to hold interest rates at 4.5%. Commenting on the latest update from the Bank of England, Neil Rudge, Chief Banking Officer for Commercial at Shawbrook, said “The Bank of England has chosen to keep the base rate frozen in the final decision of the tax…
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The Bank of England has cut interest rates from 4.75% to 4.5%, taking the base rate to the lowest level for more than 18 months. The Bank of England Monetary Policy Committee (MPC) has voted to cut interest rates by 0.25% to 4.5%. The MPC voted 7 to 2 in favour of the cut, with two dissenting…
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The Bank of England’s rate-setting body voted to cut the base rate by 0.25% to 4.5%. The nine-strong Monetary Policy Committee voted by a majority of 7–2 to reduce Bank rate by 0.25%. But two members, Swati Dhingra and Catherine Mann, thought more help was needed and voted for a 0.5% cut. Bank Governor Andrew…
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