Interest rates to continue at low levels

February 2, 2016
bank of england interest rate

Last month Mark Carney, Governor of the Bank of England said the global financial backdrop was ‘unforgiving’ as he insisted that ‘now is not yet the time’ to raise interest rates in the UK.

As it publishes new economic forecasts with concern growing about a new global slowdown and an unsettling referendum on Britain’s place in the European Union approaching, the BoE is likely to stress that it is in wait-and-see mode. He may well signal this thursday when giving out the central bank’s quarterly inflation report  that  Interest rates could stay on hold for the rest of the year as the economy slows.

The continuation of low interest rates is a benefit to the Housing and Mortgage market, commenting on the latest Bank of England monthly Money and Credit statistical release, BBA Chief Economist Richard Woolhouse said:

“The increase in mortgage approvals and remortgaging provides further evidence that the housing market is in robust health.

“It seems that shrewd consumers are rushing to grab competitive deals amidst uncertainty about when interest rates will shift from their current record lows.”

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

AI in estate agency letting agency property
Breaking News

Can AI-powered search platform push out Rightmove for renters?

Boss of global architecture firm takes on Rightmove with AI-powered search platform where renters describe where they want to live An AI-powered start-up launched by the former boss of a major architecture business wants to disrupt the duopoly of Rightmove and Zoopla by enabling renters to find homes by using normal everyday language – as…
Read More →
Breaking News

Midlands sees largest property management fees increase

The latest research from Rushbrook & Rathbone has found that property management fees in the Midlands have increased by an estimated 53.9% over the past decade, the fastest rate of growth across England’s regions, highlighting a widening divide in costs between the North, Midlands, and South. The research analysed average rental values across England’s regions…
Read More →
Breaking News

Continued season momentum with applicant demand up for lettings

Foxtons Lettings Market Index – May 2026 Continued season momentum with applicant demand up month on month and supply increasing.   The season’s momentum carried on undeterred. Applicant demand climbed sharply month on month, supply held ahead of last year and the market stayed balanced through it all. Competition eased compared with last year, with…
Read More →
Breaking News

Breaking Property News 22/6/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   Eco Approach Collaborate with Leading UK Buy-to-Let Lender The Mortgage Works to Deliver Free Energy Assessments for Landlords Ahead of 2030 Deadline. Eco Approach selected as the expert retrofit partner for a major new energy efficiency pilot. Initiative addresses critical knowledge gap, with 67% of UK…
Read More →
Breaking News

How to secure a rented home if you used to pay rent up front

One change that has come into effect under the Renters’ Rights Act (RRA) is that landlords may no longer accept more than one month’s rent in advance of a tenancy beginning. Previously, there was no limit to how much rent tenants could pay up front to secure a property, which was particularly helpful in certain…
Read More →
Kerb appeal
Breaking News

Whoever Leads Britain Next Must Focus on Growth, Housing and Opportunity

Neil Louth – Group Executive Director, LRG and CEO, Acorn Group From my perspective, the question is less about who occupies Number 10 and more about what they do once they get there. Whether it is Sir Keir Starmer continuing in office, Andy Burnham emerging as a future challenger, or someone else entirely, the next…
Read More →