10 March 2005
A number of leading analysts are predicting the Bank of England will once again keep interest rates on hold this month, meaning continued good news for the loan market.
Howard Archer, chief UK economist at Global Insight, voiced the widely believed financial expectation yesterday.
"It seems very likely that the Bank of England's Monetary Policy Committee will leave interest rates unchanged yet again at its meeting this week," commented Mr Archer.
But while this will be welcomed by consumers with or looking to apply for personal loans, experts are also predicting that this freeze in the cost of borrowing is set to end in the next few months.
June has been targeted as likely to witness an important hike in interest rates, according to analysts, meaning that debtors hoping for a financially balmy summer are advised to get their debts in order over the next couple of months.
One of the best options to achieve this is to consolidate credit and store cards with a secured loan.
Compare all UK personal loans at uSwitch.com and find the one to suit your needs.
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