There have been six cuts since October 2008 when interest rates were at 5% but, with interest rates at an all-time low, there was seen to be little room for rates to fall again.
There have been mixed signals over the past few weeks with some saying the quantitative easing is resulting in improvements to the economy. Estate agents are seeing more people showing an interest in buying property; prices aren’t falling as they were, and mortgage approvals are up. Consumer confidence is also reported to be higher. Time will tell.
