07-09-2007
NAEA expresses relief at interest rate decision
The National Association of Estate Agents (NAEA) has expressed relief at yesterday's interest rate decision, it has been revealed.
According to comments made by Stewart Lilly, president of the NAEA, yesterday's decision by the Bank of England's monetary policy committee to hold interest rates at 5.75 per cent will create a period of stability for a number of market adjustments to run their course.
"We are very relieved at the Bank of England's decision to maintain interest rates at their current level," said Mr Lilly.
"There have been various economic factors, including fluctuations in the stock market, indicating that now is not the right time for an increase," he added.
Indeed, among the things thought to benefit from a period of interest rate stability is the introduction of home information packs.
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