CHL Mortgages surprised by Bank of England's decision

As we know The Bank of England has kept the base rate at 5%, CHL mortgages was surprised by this and has decided to comment on this. Many experts in the housing market expected there to be a drop of 0.25% in the base rate, but the Bank of England’s Monetary Policy Committee decided to keep things as they are.

We knew from the beginning that the Bank of England had a tough decision to make; first they had to think about inflation while at the same time they have to keep a close eye on the current credit crisis.

Trevor Child, Head of Sales and Marketing at CHL mortgages, commented: “It is unsurprising that the MPC has decided to hold Base Rate at 5% this month given the recent Inflation figures and the Bank’s own view on Inflation’s expected rise over the coming months.”

He also added “The medium to long-term view may be that Inflation will move back towards the Treasury’s target of 2% next year, however, shorter-term factors are steering the ship at present.”

Read his full article at Introducer Today