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May Interest Rate Statement - Rates held at 0.5%

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David Bexon, Managing Director of smartnewhomes.com, comments on the Monetary Policy Committee’s (MPC) decision to hold interest rates at 0.5%:

“Today presents the first reminder that the show must go on, as uncertainty continues over precisely who will now run the country following last week’s indecisive election result. At this time, stability is more important than ever, and while no major legislative changes are to be expected, key decisions such as the setting of the base rate still have to be made.

“The issue of restricted mortgage finance remains and it is vital that current uncertainty throughout the markets does not affect this further. Continuing low interest rates are crucial to the somewhat budding recovery of the housing market.”

See Also: Press Releases (371), Property News (6711), MPC (8), Monetary Policy Committee (11), Interest Rate Statement (8), Interest Rates (13)