The Bank of England can cheapen cost of credits at the nearest session
15 January 2008The Bank of England can lower interest rates at the nearest session on January, 10. According to The Wall Street Journal, it can be caused by new signs of national economy depression.
Experts predict that European Central Bank will keep cost of credits on Thursday at a former level - 4 percents per annum. For this reason the attention of the market in absorbed by the future decision of the British Central Bank, which is rumored to be forced to act by the government of the country.
Chancellor of the Exchequer has declared at a press conference, that rather low inflation in the country allows the Bank of England to reduce rates again. He has also informed that the government has not made the decision yet, whether to offer the head of the Bank of England Mervin King to stay on this post for the second term. M.King is being criticized for his role in the campaign on rescue of mortgage bank Northern Rock and the credit crisis which has begun in August. Five years’ term comes to an end in June.
- British mortgage has unexpectedly became inaccessible (Part 2)
- British mortgage has unexpectedly became inaccessible (Part 1)
- ECB has raised a discount rate up to 4,25 %
- Citigroup: situation in developing markets will get worse
