27-09-2007
UK should be ready to cut interest rates
News from Simply Business - independent providers of buy-to-let mortgages, commercial mortgages, landlord insurance, business insurance & business finance.
The Bank of England should make itself ready to reduce interest rates, it has been claimed.
According to the Organisation for Economic Co-operation and Development (OECD), it is possible that interest rates may need to be cut as a result of a weakening in the housing market.
The OECD also noted that there is risk to the UK economy of a decline in overall economic growth.
However, in May, the OECD had noted that the Bank of England should maintain a comparable level of vigilance over the need to increase interest rates.
"The outlook for both growth and inflation has now become more uncertain and there is a risk that growth will be weaker going forward, which could imply a need for interest rate reductions," said the organisation.
Now may be a good time for property investors to review their mortgage situation.
Simply Business offers good deals on buy-to-let mortgages and commercial mortgages, as well as comprehensive landlord insurance from leading providers.