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.

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