Interest rates remained the same today, as the Bank of England continued to respond to the uncertainty in property markets and the City. This is the third time in a row the Bank has left rates unchanged. But there is a growing feeling in the City that a slowdown in the economy is already under way, made stronger by the credit crisis triggered by the questions surrounding Northern Rock. It was not a surprise to many that rates remained the same today, although experts in some circles now believe that interest rates may fall before the year is out, or early next year. ?We have pencilled in the first 25bp cut in February, with two further cuts to 5% later next year in May and August. However, this forecast could change as the financial market developments and their impact on the economic outlook becomes clearer,? said Paul Dales from economists Capital Economics.
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Uniquely unique? The Yorkshire grain silos transformed into a home that's a symphony in glass, steel and curvesAmid the beautiful countryside of North Yorkshire, on the edge of the Castle Howard Estate, The Silos is a property for which the word 'house' simply doesn't cut it. And that's not the only way in which it's made us throw out the dictionary.
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Polluting water executives now face up to two years in prison, but will the new laws make much of a difference?The Government has announced that water company executives caught covering up illegal sewage spills could now be imprisoned for two years, under new laws — but many still have their doubts.
