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

Rightmove logo
Breaking News

Retail investment bounces back as Bank Rate cut again

Demand to invest in retail commercial property is up by 35% compared to a year ago, shifting from being 15% down year-on-year in 2024 Overall demand to invest in commercial property is up by 20% as the interest rate environment improves, and the Bank Rate is cut for the second time this year Office sector…
Read More →
Breaking News

Ticking time bomb that could be growing in your garden

Property industry body flags the ticking time bomb that could be growing in your garden rapidly during the summer months There have been widespread concerns about Japanese Knotweed over the years, but for those who may not be aware of the pesky plant, Propertymark highlights that now is the time to act, as warmer conditions…
Read More →
Breaking News

Working-age Britons, poorest households

Working-age Britons, poorest households and the North East are suffering most from substandard housing, new data shows Never before seen analysis of the latest English Housing Survey has exposed the staggering inequalities in the monetary and social cost of living in poor-quality homes. In the North East, households are paying five times more than those…
Read More →
Breaking News

Deposit Size Could Make or Break Your Budget in 2025

Mind the Deposit Gap: Why Your Mortgage Deposit Could Make or Break Your Budget in 2025 As UK homeowners and buyers face rising costs and tight affordability, specialist lender Hodge Bank warns that the size of your mortgage deposit could now play an even bigger role in long-term financial wellbeing. Hodge is urging homeowners and…
Read More →
Breaking News

Government continues to withhold Renters’ Rights Bill court impact study

Government continues to withhold Renters’ Rights Bill court impact study, citing policy ‘safe space’ despite ‘unacceptable’ court delays Reapit appeals decision. The government has again declined to publish its Justice Impact Test for the Renters’ Rights Bill, this time in response to a Freedom of Information request, citing the need to preserve a “safe space”…
Read More →
Breaking News

Urban Property Values Outpace Coastal & Countryside Markets

City Living Resurgence as Urban House Prices Outpace Coastal and Countryside Markets The latest research from eXp UK has found that city living is firmly back in favour, with the nation’s major cities seeing a stronger average rate of house price growth compared to coastal and countryside locations. The research by eXp UK analysed the…
Read More →