Wait and see rate cut
- 18th October 2007
- Buying Property News
It is possible that a cut in interest rates could occur as early as next month.
Though the 5.75% interest rate remains for October evidence suggests that it could be cut in November. The Monetary Policy Committee minutes released today show that the MPC is waiting for the November inflation figures before committing to a rate cut.
Howard Archer of Global Insight says: “The October MPC minutes indicate that a November interest rate cut is a genuine possibility.”
It is a case of wait and see if a rate cut will regenerate a sluggish property market.
A November interest rate cut is a genuine possibility.
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