When is the Budget?
2007-03-13 01:23:55 · 6 answers · asked by Anonymous in Business & Finance ➔ Investing
The interest rates are not set by the Chancellor but by the Bank of England and has nothing anymore to do with the government. The Bank of England can raise/lower it monthly as they see fit.
Inflation has dropped so it is less likely to be raised than it was a couple of months ago but you never know!
2007-03-13 01:33:47 · answer #1 · answered by Marky 6 · 0⤊ 0⤋
Interest rates are controlled by the Bank of England and are reviewed monthly. The rate was not changed in the last review. The rate used to be controlled by the Chancellor but this changed over ten years ago.
2007-03-13 01:37:09 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Gordon Brown cant increase interest rates.When Labour came to power in 1997 one of the first things they did was to make The Bank Of England independent .The bank raises or lowers interest rates dependant on what the inflation target is .
2007-03-13 01:34:59 · answer #3 · answered by CRAIG S 3 · 0⤊ 0⤋
the bank of england decides whether to raise or lower interest rates at a monthly meeting. the budget is usually early April
2007-03-13 01:33:20 · answer #4 · answered by bushmonkeyman 1 · 0⤊ 0⤋
No it's the Bank of England does that.
2007-03-13 01:26:53 · answer #5 · answered by Barbara Doll to you 7 · 0⤊ 0⤋
HE ANNOUNCES ALL HIKES IN HIS BUDGET........ITS IN A FEW WEEKS TIME
2007-03-13 01:29:41 · answer #6 · answered by michael b 5 · 0⤊ 3⤋