Loans

In view of a few recent encouraging trends in the economy, Governor of Bank of England looks for a sudden positive turnaround of the economy in the last quarter.

Survey results by Building Societies Association show that people are growing more confident to take out mortgage loans, despite the looming fear of rise in unemployment rate next year.

Poll held by the Bank of England reported the anticipation of householders is, the rate of interest in the coming year is going to remain steady.

As follow-up to its vivacious activities to fight credit crunch, BOE makes no change in its monetary policy. The recently met committee decided to hold on the interest rate at 0.5 % along with its plan to increase financial support though QE.

The Bank of England is on work of recovering the injured economy and in response to the same it is going to purchase 175 billion pound asset.

Most of countries including Britain, South Korea and New Zealand have put the interest rate stagnant. They are planning to rise their rates by next year with the expectation of smooth and strong economy.

As a silver lining in the sky of gloomy economy, the prices of the households in the country go upwards for the fourth consecutive in August.

The expansion of another £50billion got approval with support of most of the MPC members. They reject for the package of £75billion with saying that the most immediate downside risk to the economy seemed to have receded.

In a few upward trends in the UK economy, majorly visible in housing and manufacturing sectors experts hope the signs of recovery.

The Bank of England finally decides to go on further more with the Quantitative Easing (QE) programme, looking for an instant economic recovery.