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No change expected for Bank rate as MPC sits on the fence

09/07/2008

As the UK battles against a looming recession due to the attack of the credit crunch, the Bank of England's Monetary Policy Committee faces one of Britain's toughest challenges.

The wrong decision could cause inflation to cripple consumers or the economy to grind to a halt, so the pressure is on for the MPC to get it right. Consequently, experts are predicting the base rate will remain at 5 per cent for July. more

  • Persimmon adds to house builder gloom with 2,000 job cuts

    The house builder Persimmon has announced it will be cutting almost 2,000 jobs – more than 30 per cent of its workforce – as the credit crunch causes a lack of mortgage availability and

  • Bradford & Bingley awaits its fate

    All Bradford & Bingley can do now is wait pensively for the outcome of its rights issue which is due to be open until mid-August. Shares in the bank closed down last night at a new low of 34p, 21p lower than the rights issue share price.

  • FirstPlus closes bad credit loan business

    Barclays' bad credit loan branch, FirstPlus, is closing its doors to new business, in light of falling profits and house prices which are discouraging people from taking out a loan against their home.


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