Major Site Upgrade in Progress |
 |
|
 |
|
Sarah
Money Manager
Joined: 16 Jul 2004
Posts: 831
Cash Points ££ 12024.38
|
|
|
 |
|
 |
|
 Posted: Thu Jan 25, 2007 10:23 pm Post subject: Bank of England Minutes of MPC decision to raise rates |
 |
|
|
 |
|
 |
|
|
|
|
The latest MPC minutes show that the decision to raise interest rates from 5% to 5.25% was carried by just one vote. This implies that the decision for future rises will be more balanced than what the market initially perceived after the last rate rise.
With 5 voting for a rise and 4 against, this makes a February rate rise highly unlikely. Though it is premature to conclude that further rate rises will not happen. The Market Oracles forecast on UK interest as of Nov 06 UK Interest Rates could rise to 5.75% in 2007 . With the CPI at 3%, this is still on target for around September this year. So at least one more rate rise can be expected, possibly in April or May 2007.
Strong growth figures released yesterday showing the economy grew at its fastest pace in two and a half years during the last three months of 2006, recording a 0.8% surge in GDP, with annualised GDP rising to 3%, above Gordon Browns target of 2.75%. The growth is being driven by record bonuses for the one million people working in the City (Britain's financial services industry) as a result of the surge in Mergers and Acquisitions business. This also supports the viewpoint that another rise is highly probable.
Sterling reached a peak of 1.9916 just prior to the release of the minutes on anticipation of further tightening implications. However the tight decision led to a fall in sterling to below 197. Now settling at just above 1.97 Whilst a break above $2 maybe now unlikely in the near future. However the given at least one more rise in interest rates. At some point the Pound will attempt and likely break above $2 this year.
Savings Account rates are expected to nudge above 6% tis year with many 6%+ fix rate opporunities |
|
|
|
|
|
|
|
Roberts
Beginning Saver
Joined: 06 Jan 2007
Posts: 25
Cash Points ££ 464.36
|
|
|
|
|
|
|
| Posted: Sat Jan 27, 2007 3:10 am Post subject: |
|
|
|
|
|
|
|
|
|
|
Thats a pity, I was hoping for some 6% interest rates so I can get some fixes in above 6%
So I guess I better get a move on and fix some money at current levels. |
|
|
|
|
|
|
 |
Online Finance Tools & Calculators |
 |
| Credit Score Calculator |
Easy to use online Credit Scoring tool - Calculate your credit score now online for FREE ! using the Moneyforums.co.uk credit scoring tool. Also TEN Tips on improving and mainting a good credit rating ! |
|
| Quick Health Calculator |
Easy to use quick health calculator to help you get started on the path to fitness. Calculates your body mass index (BMI). |
|
| "When will I die ?" Calculator |
Calculate when will you die based on your current life style and then more importantly what you can do about extending your lifespan ! |
|
| Mortgage Calculator |
Easy to use online Mortgage calculator tool - Calculate how long it will take to pay off your mortgage and what your monthly repayments will be as well as interest charged per month per each year. |
|
| Savings Calculator |
Use the flexible savings calculator to estimate the amount of interest you would earn given a level of monthly savings, with many optional settings. |
|
| UK Tax Calculator |
Check your tax and NI liability using this easy to use online tool. Outputs, Tax, Ni, Net pay and gross pay on an annual, monthly and weekly basis, also estimates your tax burden and the number of days a year you work for the tax man ! Plus lots of tax saving tips. |
|
|
 |
|
 |
|
Money
Forums Guides |
|
| Credit
Card Stoozing |
The
following guide explains the basics of credit
card stoozing in a step by step basis. |
|
| Discount
Vouchers |
Online
discount vouchers giving upto
50% off in stores such as Dixons,
Tesco, Avon, Currys, Boden and more. Many
of the vouchers are time limited - So check
back regularly |
|
| Money
Saving Guide |
Guide
to saving money on household bills & personal
finances - Start saving thousands of £'s
every year TODAY ! |
|
| Savings
Tree |
A
guide to Savings Accounts, from Cash ISA's to
Regular Savers to Premium Bonds, all explained
in an easy to understand manner. |
|
|
Users
Groups | Profile
| Messages
| FAQ | Sponsers
& Links | Member
list | Recommend this site | Top Money Saving Sitee
© 2004 - 2007 Moneyforums.co.uk / Market Oracle Ltd - Asserts copyright on all topics & posts made on this site. Moneyforums are open forums, and thus posts are NOT endorsed by Moneyforums.co.uk / Market Oracle Ltd . Any and all information provided within the Website is for general information purposes only and nor is or shall be deemed to constitute, financial or other advice. We recommend that independent professional advice is obtained before you purchase any product and/or service. All tools and guides are provided as is for general information purposes only.
|
|
