uk interest rates

The Bank of England's Monetary Policy Committee voted to raise the base rate by of interest by another 0.25 percentage points today <5th Aug 2004>.

They stated that "Output growth has been robust and business surveys point to continued expansion. Although the housing market remains buoyant, there are now signs that it is starting to ease, and the growth of consumption may be moderating"

The base rate now stands at 4.75%.

The increase was widely expected, with many predicting at least another 0.25% increase by the end of the year.

UK Interest Rates