 Interest
Rates Are Unlikely To Fall!
12 November 2007
For homeowners or those looking to take out secured loans or
personal loans, it is unlikely that interest rates will fall in the near
future according to some top economists in the UK and US.
Why?
For homeowners who drive a motor vehicle such as a car or van or
motorbike on Britain's roads cannot escape the fact that we are
paying out £1 a litre for petrol and diesel in most regions of the
country for the first time. This rise in the cost of fuel is largely
due to Government tax rises in the form of fuel duty and the price
of crude oil which is nearly $100 a barrel.
What
does this mean for homeowners?
Countries around the world will be concerned because rising fuel
prices is large factor that contributes to inflation. Therefore, to
curb inflation, interest rates in the UK set by the Bank of England
are unlikely to fall in the short term which is bad news for those
looking for a secured loan. |
