| All News | Archived News |
Rate cut `likely` after US "shock"
25 January 2008
The recent "shock" interest rate cut in the US is likely to be followed by similar action in the UK next month, a financial expert has claimed.
Earlier this week, the US Federal Reserve cut interest rates by 0.75 per cent to 3.5 per cent, one of the biggest cuts for decades.
As a result, a number of analysis have suggested that the Bank of England`s monetary policy committee will follow the lead and cut interest rates in the UK by 0.25 per cent when they meet next month.
Fool.co.uk`s head of personal finance David Kuo said: "[Bank of England governor Mervyn King] said that inflation is a problem and that is something most people do recognise.
"So the cuts in interest rates in February may not be as dramatic as the one in US but we will get the quarter point cut in February."
Speak to an expert today
Call freephone: 0800 161 3516
©2008 Gregory Pennington Ltd. Pennington House, Carolina Way, South Langworthy Road, Salford M50 2ZY. Company Registration No. 2855061
Registered in England and Wales
Part of the Think Money Group. Our initial advice on your best financial solution is free. Fees payable where continuing services are provided. Calls may be recorded for training and quality purposes.
Debt Management | Debt Solutions | Debt Consolidation | IVA | Trust Deed