/24-7PressRelease/ - LONDON, UK, August 14, 2006 - As per the latest news reports, the bank of England has indicated that it may increase the interest rates in the country once again, much to the dismay of the existing and prospective borrowers.
In what turns out to be a big surprise for the loan consumers in the country, the Bank of England has signalled that it may consider further rise in interest rates in the near future.
It is interesting to note that the bank increased the interest rate just a week ago to 4.75 per cent. Though it was the first rise in two years, it surprised many financial experts.
The cause of the rise, as explained by the Governor, Mr. King, was a rise in the inflation rate to 2.5 percent in June 2006. The next rise could be due to further rise in inflation. There remained great uncertainty about the future oil prices, in the wake of troubles in the Middle East, the governor opined.
The rise in the interest rate is going to affect all types of loan consumers, but it may affect the personal loan consumer the most because most of the personal loan products are unsecured. Since they are unsecured, they are disbursed at interest rates that are higher than usual.
For additional information on the news, that is the subject of this release (or for a sample, copy, or demo), contact the webmaster or visit http://www.loans-bazaar.co.uk.
---
Press release service and press release distribution provided by http://www.24-7pressrelease.com# # #
Read more Press Releases from Rajiv Kumar:Other Press Release Headlines:
