lettings & estate agency appletons on 15 Nov 2007 08:07 pm
Expected interest rates cuts
The Bank of England has signalled potential interest rate cuts for 2008.
This has been welcome by millions of mortgage payers who have been struggling to keep up with escalating interest rates.
The Bank of England has increased the interest rates 5 times over the past 15 months - peaking at 5.75%.
However, there were also some worrying news in the its quarterly Inflation Report. The Bank forecasts the economy would slow down in 2008 and inflation would increase.
The Bank noted a significant amount of uncertainty over for the economy in the upcoming months, particularly due to the vulnerable world financial systems.
The bank also indicated that there were some signs the house price inflation was softening.
