Bank of England

Bank of England desires to put UK interest rates firm

Bank of England desires to put UK interest rates firm

The Bank of England shall grip its nerve and keep away from pressure to increase interest rates, a prominent financial forecaster has stated out.

The Ernst & Young ITEM Club states that any growth in the bank base rate by the present historic low of 0.5% can put in danger the financial revival. The bank shall be standing tough against impermanent pressures like the VAT rise, it states that.

Mortgage lending decreases in the month of March

Mortgage lending decreases in the month of March

According to the data released by the Bank of England, the number of mortgages sold to home owners in the first quarter of the year was reported down by 20% comparing to the previous quarter. This decline in mortgage numbers showed that the recovery in the housing market has come to a halt.

The data released by the Bank of England revealed that around 144000 mortgages have been given to people buying a home in the quarter ended March 2010, while it was recorded of 174000 in the previous quarter ended December 2009.

UK Economy to grow slower in 2010 – Bank of England

UK Economy to grow slower in 2010 – Bank of EnglandUK's economic recovery got new estimates by the central bank. The Bank of England said today that the recovery would be slower than previously expected and output is unlikely to return to pre-crisis levels for a near future.