'Boring' BoE meeting predicted - buy to let mortgages

08 July 2009

Landlords with buy to let mortgages awaiting news on this month's interest rate decision can expect no change in the cost of borrowing, it would seem.

According to Michael Baxter, an economist at financial data research organisation Defaqto, the base rate will rmeian at 0.5 per cent when the Bank of England's (BoE's) monetary policy committee (MPC) meets tomorrow.

Indeed, the financial expert predicted that the MPC gathering is set to be "rather boring" as a result.

The interest rate was brought down to 0.5 per cent in March - and the MPC has kept it at this record low level ever since.

Back in the summer of 2007, the cost of borrowing was in excess of five per cent.

On tomorrow's noon decision, Mr Baxter remarked: "It is certainly way too early for it to increase the rate of interest."

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