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Today\'s Interest Rate Cut Does Not Go Far Enough

10th April 2008 | back to article listings BACK    print this article PRINT

Commenting on the Monetary Policy Committee’s decision to drop interest rates to 5%, Stuart Law, Chief Executive of Assetz, says:

"Finally the Bank of England has taken action and sanctioned a much needed cut in interest rates. However, I fear this is not enough and very late  - with a more significant cut of 0.5% needed if it was to have any impact on the market.

“A growing number of lenders are now pricing themselves out of the market with uncompetitive deals and this is not healthy. The Bank of England not only needed to cut rates today but it needs to inject some much needed liquidity into the market, before competitive mortgage deals all but dry up.”

Managing Director’s Blog: http://investors.assetz.co.uk/blog/archives.php

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