Interest rates to remain low

January 20, 2016
bank of england interest rate

Governor of The bank of England Mark Carney has made assurances that now is not the time to be raising interest rates, saying that rates are unlikely to increase from their record low any time soon.

This news comes on the back of falling oil prices and the news yesterday that China’s economic growth is the slowest for 25 years, some are saying that its growth is actually much weaker than official data suggests, this is a concern for major invetors around the world.

In his speech at Queen Mary University of London, Mr Carney said “now is not yet the time” to increase rates, this announcement will be welcomed by millions of homeowners looking to remortgage, many experts are expecting rates to continue to remain low for years to come.

He also commented that due to the oil price collapse inflation has fallen further and will probably remain low for longer, annual inflation data as of yesterday stands at 0.2%.

To read the full “Turn of the year speech” by Mark Carney click here

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Breaking News

Rent and run? Agents warn of new ‘Stopover Tenant’ epidemic

Nearly 1 in 3 letting agents report tenants walking away from 6–12 month tenancies – some after just a few months Experts warn rental reforms are fueling relocation-style, short-term renting Almost half of agents now advising landlords on how to manage early exits A new trend is sweeping the rental market and it’s leaving landlords…
Read More →
Breaking News

Breaking Property News 11/09/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   A ‘workplace companion that’s not just about managing buildings’ Smart Spaces has launched Space Agent, its new agentic AI-driven workplace concierge designed to transform how people manage and engage with buildings and their workplaces. Space Agent – introduced through its friendly persona, Max – is fully…
Read More →
Breaking News

Where can you still buy a home for under £150k?

Zoopla reveals Great Britain’s property bargain hotspots Just 12 per cent of all homes for sale across Great Britain are priced under £150,000 making location key for home buyers looking for a bargain In the North East, a remarkable 41 per cent of all homes for sale fall within this price range, followed by Scotland…
Read More →
Breaking News

Landlord repossessions soar as Renters’ Rights Bill looms

Landlord repossessions soar as Renters’ Rights Bill looms, with some areas seeing increase of over 2,500% The latest analysis from Dwelly, one of the UK’s leading lettings acquisition and success planning experts, shows that landlord repossessions have increased by 6.8% across England and Wales. However, in some areas of the country they have soared by…
Read More →
Breaking News

These are Britain’s most active housing markets

New research from The Property DriveBuy reveals that the busiest homebuying postcodes in Britain right now are found in Croydon, Buckinghamshire and Waltham Forest, however, for those hopeful homebuyers facing tough competition, shifting to a neighbouring postcode could see them secure a property. The Property DriveBuy analysed latest housing market data to discover which of…
Read More →
Breaking News

Downsizers can bag 2 for 1 on property purchases

The latest research from over-50s property specialists, Regency Living, reveals that downsizing retirees could own two homes for the price of one, combining a comfortable home in England with a sunny escape in Europe. According to Regency Living’s latest analysis, retirees who sell a traditional bricks and mortar house and purchase a park home can…
Read More →