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King does not rule out rate cuts - buy to let mortgages

Published: 14.5.2008

Bank of England governor Mervyn King has not ruled out the possibility of further rate cuts which could lower the cost of Buy to Let Mortgages.

Mr King said the monetary policy committee had to "balance" the risk between inflation rising and growth falling when making base rate decisions as he announced the outcome of the Bank''s latest quarterly inflation report.

The report indicated that the risk of rising inflation was greater than that projected in February.

However, the report itself noted that there was "substantial uncertainty" about how strong some inflationary factors will turn out to be, meaning the inflation level may not be as high as feared, allowing more scope for base rate cuts.

Yesterday''s official inflation statistics revealed that the consumer price index rate is now three per cent, pushed up mainly by rising food and fuel prices.

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