7 July 2005
People with personal loans and credit cards are unlikely to see a cut in the base rate of interest today.
A reduction in the Bank of England's interest rate today would have a knock-on effect, leading to cheaper deals on the high street.
But despite a slowdown in consumer spending, a stagnant housing market and a drop in business confidence, the bank's monetary policy committee (MPC) is expected to leave rates on hold.
Interest rates rose last year but have been steady at 4.75 per cent for almost 12 months.
Business leaders and unions have been calling for a quarter point cut to provide the economy with a shot in the arm.
Reports this morning suggest that the MPC has been considering such a move, but most analysts are still predicting a hold when the announcement is made later today.
Compare secured and unsecured loans at uSwitch. Find the most suitable loan for you.
© 2008 Adfero Ltd
Content for the uSwitch.com market news service is provided by a third party, Adfero Ltd. Whilst uSwitch.com makes reasonable efforts to check the reliability of this content, uSwitch.com does not guarantee the accuracy thereof or endorse the views or opinions given by Adfero Ltd, unless expressly stated otherwise.