Bank of England hints at lower rates
Friday November 16, 2007
While speculation is rife that Australian interest rates will again rise in February of 2008, the Bank of England has forecast a drop in interest rates next year.
The Bank of England has forecast that interest rates could be cut by as much as three times from its current rate of 5.75 percent.
That's all good news for home buyers who will be paying less for their mortgages. Australia's current strong economic growth ensures that we won't be saying any rate decrease any time in the near future.
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