Bank of England base rate unchanged at 5.25%

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) March 14, 2007 -- London (go4ukloans) March 12, 2007: The Bank of England has decided not to disturb the existing base rate of interest. According to Simon Ward, chief economist at New Star Asset Management, this outcome was very much on the cards. The current level of interest rate is 5.25 per cent.

The decision by the Bank came as a relief to many personal loan holders who have taken out loans at variable rates. However, those with fixed rate of interest are anyway protected by further interest rate hikes.

Speaking on the future developments, Mr. Ward said: "We remain of the view that a cooling economy and better inflation figures will head off another rate increase, but it is too soon to sound the all-clear."

Another financial expert was of the view that MPC members were still waiting to establish the effects of the last hike in interest rate apart from taking into consideration the current level of inflation.

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