• 7 months ago
Here is all you need to know on that latest interest rate freeze by the central bank.
Transcript
00:00 Last week, the Bank of England, in its latest monetary update, has announced that the interest
00:07 rate will remain at 5.25% for May 2024, reflecting the bank's cautious approach amidst global
00:16 economic challenges. For homeowners with variable rate mortgages, this announcement offers a
00:22 sign of relief as their repayments will not increase for the time being. This stability
00:28 is particularly beneficial during uncertain economic times, allowing for better financial
00:35 planning and security. On the flip side, savers might feel themselves slightly disappointed
00:42 as the static interest rates mean that returns on their deposits will not see an improvement.
00:48 The bank's steady hand aims to anchor inflation expectations while nurturing economic growth.
00:55 By maintaining the current rate, they hope to provide a predictable environment for businesses
01:01 and consumers alike.
01:03 [BLANK_AUDIO]

Recommended

1:00
I
Up next
The Bank of England holds interest rates: what it means for savers and borrowers
National World - LocalTV
1:00
Bank savings account rates 2023: How much interest are the UK's biggest banks offering to its customers?
National World - LocalTV
1:00
Interest rates rising: What does that mean for your mortgage?
National World - LocalTV
2:51
Kal Penn explains interest rates
Mashable
3:05
Savings: How to beat low interest rates on many accounts
National World - LocalTV
2:00
Just how high could mortgage interest rates go? We speak to a finance expert from Raisin UK
National World - LocalTV
0:37
Bank of England increases interest rates for 14th time in a row
euronews (in English)
1:00
UK house prices fall at sharpest rate for 14 years, says Nationwide
National World - LocalTV
1:12
Pressure on borrowers expected to ease after interest rates cut for first time since pandemic
Yorkshire Post
2:00
Interest rates need to fall for the cost of living crisis abates - an expert explains
National World - LocalTV
8:14
How does raising interest rates control inflation?
The Economist
1:05
What will the interest rate freeze mean for house prices across the North East?
National World - LocalTV
0:59
Bank governor says issue on interest rates has ‘moved on’
ODN
1:05
How will the interest rate freeze affect property prices across the West Midlands?
National World - LocalTV
2:02
Bank of England Interest Rate Cut
Insider Media
0:25
Rachel Reeves welcomes interest rate cut
Evening Standard
1:10
Labour urges banks to ‘do more’ on interest rates for savers
ODN
1:00
Mortgage rates: Top tips from experts on how to save money with interest rates increasing
National World - LocalTV
0:23
Chancellor welcomes interest rates cut
ODN
1:00
Mortgage rates: How much can you expect to be able to borrow when taking out a mortgage?
National World - LocalTV
1:00
What is inflation? How does it affect you?
National World - LocalTV
1:00
Mortgages: Rates rises above 6%
National World - LocalTV
2:52
Economists expect Reserve Bank to keep interest rates on hold
ABC NEWS (Australia)
0:40
Barclays, HSBC and TSB all cut mortgage rates again
Evening Standard
0:59
Mortgage rates to stay put at 4.35% as RBA holds steady
Australian Community Media