/24-7PressRelease/ - LONDON, ENGLAND, September 23, 2006 - The Bank of England announced some days back that it would be freezing the headline rate at 4.75 per cent for September.
Economists had widely expected the bank to keep the rate unchanged following last month's surprise increase by a quarter of a percentage point.
Minutes from August's monetary policy committee's meeting suggested that the August rate rise was taken to "reduce the risk that a sharper rise would be needed later".
Some analysts suggest that an increase is likely again in the coming months in order to keep inflationary measures in check.
Philip Shaw, an economist at Investec, told The Times: "Base rates are likely to rise again. It would take some very poor news on the economy, very good news on inflation or both to stave off another increase."
This would need reining in, comments the Guardian, which is another reason why analysts are predicting a further rate rise in November.
However, till the rates increase, the secured loans market is sure booming with prospects eyeing to cash I on the freeze. Secured loans can be availed by pledging a property against the loan amount. This securing of property justifies the low rate of interest. Till the bank of England decides to raise the rates again, cash in on the opportunity.
For more details on secured loans, contact the Webmaster or http: http://www.loans11.co.uk
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