MPC Decided To Grasp Base Rate

Released on: August 9, 2008, 3:27 am

Press Release Author: Johnphilip Philip

Industry: Financial

Press Release Summary: Those who are looking for an effective way to supplement
their spending, it is an ideal time to apply for the loan as MPC has decided to cut
down their rates to five per cent. It will provide you financial assistance to
fulfill all your needs with an affordable rate of monthly repayments.

Press Release Body: It has been revealed that the Bank of England's committee has
opted to retain the base rate of interest.

In its monthly meeting, the committee has chosen to keep the interest rate at five
per cent. Such a step shows that it is the sixth time the group has voted for no
change in rates. There is a downfall of 0.25% in both February and April.

As a result of committee's decision, it might be possible that the funds of Britons
do no find any damage. This might be benefited during the current financial tension
as earlier hike of 5% between August 2006 and July 2007 have been a pioneer to an
increase in monthly mortgage payments.

This month's decision to remain the base rates stable may mean that consumers' may
be able to handle the other spending commitments in areas such as personal loans,
household bills, credit cards and transport costs which does not come under any
further stress.

It is possible that the hold of the MPC may secure the financial difficulties of
people. A number of financial experts stated that Bank of England has given the
opportunity to cut down its base rate so that people can take the loan at a
reasonable rate to fulfill their entire requirements.

According to a spokesperson from financial services, people are taking interest in
opting for loan in order to meet their needs. It was stated that five million
people are presently living away from resources, while the cost of debts remains

The MPC should keep in mind the danger of inflation which is the biggest threat to
the UK economy. Many Briton people have welcomed the base rate reduction with open
arms as they were facing problems in paying their mortgage.

For more information please visit here :-

Web Site:

Contact Details: 4155 Regent Street
UK (W1B 5RJ)
Ph. No. : 02053443312

  • Printer Friendly Format
  • Back to previous page...
  • Back to home page...
  • Submit your press releases...