Bank England interest rate

Rooky007 · 22 Mar 2011 at 21:24

When do u all think rates will start to rise? I feel the April meeting we will see the first rise in 2 years.

[TW]Fox · 22 Mar 2011 at 21:26

June or August.

Rooky007 · 22 Mar 2011 at 21:27

Why u think that after the news of the inflation rise?

VFM Addict · 22 Mar 2011 at 21:27

Could well see one in April but my bet would be June. I just can't see it being later than that.

badcompany · 22 Mar 2011 at 21:28

August 0.5% ---> 1% then next 2 years it may hit 2.75% at a guess.

tummelv · 22 Mar 2011 at 21:28

I think we may see a token rise in the next month or two but it will be later on in the year before proper rises.

[TW]Fox · 22 Mar 2011 at 21:29

Rookies said:
Why u think that after the news of the inflation rise?

Because we had news of an inflation rise last month as well and the MPC didn't act - the minutes of last meeting might give us more of a clue, but at the moment the markets are pricing in a rise for June.

April is unlikely, though welcome.

kae2 · 22 Mar 2011 at 21:29

I'm going with August.

Rooky007 · 22 Mar 2011 at 21:30

When the rise starts lots of home owners going struggle this country such a mess

badcompany · 22 Mar 2011 at 21:31

[TW]Fox;18728681 said:
April is unlikely, though welcome.

No thanks leave it where it is

My mortgage is base rate + 0.5%

Low rates is great

badcompany · 22 Mar 2011 at 21:31

Rookies said:
When the rise starts lots of home owners going struggle this country such a mess

This is why they will not go up to 'normal' ie 6-9% for quite a while yet.

Rooky007 · 22 Mar 2011 at 21:33

badcompany said:
This is why they will not go up to 'normal' ie 6-9% for quite a while yet.

How long u call quite a while

Duke · 22 Mar 2011 at 21:34

The sooner the better for us savers.

Cosimo · 22 Mar 2011 at 21:35

I think they'll leave it for a couple more months.

Cosimo · 22 Mar 2011 at 21:35

Duke said:
The sooner the better for us savers.

We most certainly need a boost.

Minxy · 22 Mar 2011 at 21:36

Not good for us home owners though. Times are tough already.

shine · 22 Mar 2011 at 21:36

I agree with everyone who is predicting sometime in the summer. The BoE will want to see the affects of the budget cuts before raising interest rates.

Duke · 22 Mar 2011 at 21:39

Minxy said:
Not good for us home owners though. Times are tough already.

You've had very low mortgage rates though for sometime.. compared to happened in the 90s.

tummelv · 22 Mar 2011 at 21:41

I read somewhere that there is approximately 10m mortage holders in the UK. Pretty sure there are more savers, give us something for a change!

[TW]Fox · 22 Mar 2011 at 21:44

Duke said:
You've had very low mortgage rates though for sometime.. compared to happened in the 90s.

Indeed, the base rate is artificially low.

I do wonder how many people budgeted for house ownership on the proviso that mortgage rates stayed at this sort of unsustainable rate for ever?