Rise in Inflation prevents Interest rates from going down

Sept. 3, 2008 - PRLog -- London (Online Unsecured loans) : According to the spokesperson again, the current trend of events will not be able to show its effect as the inflationary pressures are proving a nemesis for the economy. But once this phase will pass, it is anticipated that the base rate of Interest will be slashed.

The monetary council of the Bank of England, which is responsible for setting the base rate, is expected to declare its decision on Thursday of the month's first week. The decision is expected to have its affect over the whole country.

The spokesperson of Council of Mortgage lenders commented, “Until it is clearer that we are over the spike in inflation we don’t expect the Bank to be able to move to ease interest rates. When it does become clearer that we are over the spike of inflation it will have more credibility if it does seek to reduce interest rates in response to the prospect of the economy slowing down sharply.”

According to him, this move will bring the result in the minimum time. Also decisions like this will help the citizens in regaining their confidence in the policies of Bank of England.

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