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Future interest rate decisions 'depend on eurozone'

As the Bank of England's monetary policy committee (MPC) begins discussions today (January 7th) over whether to make further cuts to the base rate of interest, one sector commentator has claimed that future interest rates depend on sterling...

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New mortgage scheme 'will only help a few'

Only a few households in the UK are likely to benefit from the government's new package of mortgage measures - announced as part of last year's pre-Budget report - according to one sector commentator...

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Interest rate cut 'could allow breathing space'

By cutting the base rate of interest by just one per cent, the Bank or England could afford itself some breathing space, one sector commentator has asserted...

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Darling admits recession 'may be severe'

The chancellor of the Exchequer Alistair Darling has claimed that the recession may be deeper than the government had originally predicted...

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Interest rate fall predicted

A drop in interest rates to 0.5 basis points may be necessary by the end of the year, it has been claimed.

Economist at the Centre for Economics and Business Research Arek Obhanissian said that the organisation believes there will be a drop in rates over the course of 2009.

"We are thinking that it will be taken down, by the end of the year, to half. The economy isn't going to get any better between now and then so the Bank [of England] is going to need to do something," the expert said.

Indeed, some experts believe that the interest rate is set to fall again this month. Simon Rubinsohn, chief economist at the Royal Institution of Chartered Surveyors, said that a cut of half a percentage point is likely when this month's rate is announced later this week.

He noted that continuing weakness in the retail sector, as well as falling house prices and an inability to access credit, are all driving factors that may influence a rate cut...

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