Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
PPI: Economy growth could lead to interest rate rise

The growth of the UK economy could lead to a rise in interest rates, it has been claimed.

Research from the Office for National Statistics has revealed that the economy grew 1.1 per cent in the second quarter of the year – almost double the forecast rate of 0.6 per cent.

It represents the fastest growth over a three month period since 2006 and was a significant increase compared to the 0.3 per cent growth recorded in the first quarter of the year.

Much of the growth came from the expansion of business services, as well as the development of the finance and construction industries.

Simon Ward, financial expert at moneymovesmarkets.com, claimed the figures support Andrew Sentance's calls for a rise in the base rate.

He wrote on the website: "The 'MPC [Monetary Policy Committee] -ometer' model discussed in previous posts, indeed, suggests that interest rates would now be rising, if the Committee were responding to economic and financial data in the same way as in the past."

MPC member Andrew Sentance recently requested a 0.25 per cent rise in interest rates.

Posted by Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfersADNFCR-2776-ID-800004921-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B16, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide