/24-7PressRelease/ - LONDON, UK, August 14, 2006 - As per a report, Governor of the Bank of England has tried to put a break on the rumours regarding the further rise in interest rates. However, there is not any surety as interest rates do vary with inflation, but for the time being, there is no need to worry about rise in interest rates.
Governor of the Bank of England, Mervyn King has tried to damp rumours about the increment in interest rates. Actually, bank's recent reports on inflation caused some sort of fear among the analysts and they felt that interest rates might be increased further. According to Mr. King, there is quite an uncertainty about inflation rate. While talking about further developments, Mr. King quoted that, "After the initial near term rise, the central projection is for inflation to ease back towards the target."
Well, as far as bank's current projections are concerned, there is no chance of any increment in interest rates for the time being.
It's obvious that any increment in interest rates would affect many Britons, who are planning to go for various types of loans such as secured loans, unsecured loans, tenant loans, consolidation loans etc.
However, Mr. King did not comment about the Monetary Policy Committee's plans; he further said that, "We have very clearly set out our approach. I think that people who think you should drop hints are barking up the wrong tree. We don't agree with that."
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