Interest rates to stay the same, experts predict
News Category: Industry News
Published: 03-Apr-2009
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Landlords and letting agents are affected by interest rate changes, and they will be awaiting this month's decision on the base rate by the Bank of England's monetary policy committee (MPC).
According to the Royal Institution of Chartered Surveyors' chief economist Simon Rubinsohn, the rate is unlikely to change this month.
Mr Rubinsohn said that the Bank's focus has now changed, as it is looking at "other methods" of boosting monetary policy.
"Obviously we know what the Bank of England is doing, which is buying a lot of gilts; trying to get gilt yields down, trying to boost money and trying to bring other bond yields down as well," he explained.
Howard Archer, chief European and UK economist at IHS Global Insight, predicts a similar outcome when the MPC makes its decision on April 9th.
The expert thinks it will be a "non-event" and believes interest rates will stay at 0.5 per cent for the remainder of the year "and probably quite a long way beyond that".
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