Due to the fact that the UK\u2019s economic recovery has slowed down, which is partly due to the fallout from problems in China, the Centre for Economics and Business Research (CEBR) has stated that interest rates will not rise before the end of summer next year.<\/p>\n
The Bank of England has kept its 0.5 per cent interest rate in place since March 2009, though recent revelations from the Bank\u2019s monetary policy committee have indicated that a rate rise might occur before the end of this year.<\/p>\n
However, primarily because of the state of the worldwide economy, the CEBR has released a forecast that states the first interest rate rise will take place in the summer rather than February.<\/p>\n
It has also highlighted the likelihood of consumer inflation staying below the Bank of England\u2019s target level of two per cent until 2017, as well as the rate of growth slowing to two per cent from 2.5 per cent next year.<\/p>\n
Growth rates for the period running from 2017 and 2021 have also been downgraded to 1.7 per cent.<\/p>\n
The forecast is in contrast to that produced by the Office for Budget Responsibility, which has published a report claiming that growth will not fall below two per cent throughout the same periods.<\/p>\n
With interest rates likely to stay at the same level for longer than initially expected, hundreds of thousands of homeowners will benefit from lower mortgage repayment levels.<\/p>\n","protected":false},"excerpt":{"rendered":"
Due to the fact that the UK\u2019s economic recovery has slowed down, which is partly due to the fallout from problems in China, the Centre for Economics and Business Research (CEBR) has stated that interest rates will not rise before the end of summer next year.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/988"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=988"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/988\/revisions"}],"predecessor-version":[{"id":989,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/988\/revisions\/989"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}