/24-7PressRelease/ - LONDON, UK, September 24, 2007 - In August, the inflation slumped further from its earlier level. The Consumer Prices Index fell to its lowest level in more than a year, down to 1.8 percent. The falling inflation rate is likely to raise the expectations that interest rates might have already reached their peak.
Finance experts say that latest inflation figures discourage any further rise in the base rate of interest. At the same time, there are no possibilities of the Bank of England cutting down the interest rate in the near short term. It would rather adopt a wait and watch policy in view of the high oil prices and possible future increase in food prices that might still revive the inflationary pressures.
For all those consumers who are bearing the brunt of high interest rates, there may be a relief in the offing but it is too early to predict anything. The interest rate on mortgages and secured loans are likely to remain unaffected in the market for the time being.
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