29 Jun
2011
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Call For Higher Interest Rates 'Nonsense'

A member of the Bank of Englands Monetary Policy Committee, Adam Posen, has said that it was 'nonsense' for the Bank of International Settlements to call for higher interest rates.

There is 'little or no credit growth, little wage growth beyond productivity, little evidence of rising inflation expectations and oil prices are not a one way bet' said Posen.

Th is is good news for us Landlords!

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Added By: gbressington on 29th Jun 2011 at 16:46
Number of Views: 174
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Comment at 12:19 on 30th Jun 2011, Debt Advice UK wrote:

I think they are very much aware on how a rise in interest would severely impact the fragile property market. There would also be a massive increase in households falling into arrears and repossessions.

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Comment at 16:47 on 29th Jun 2011, Mark wrote:

Agreed, why would the bank endanger the wider economy when all signs are of weakening growth, especially in the High Street.

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