A home owner's diary: All Bank of England MPC interest rate decision dates for 2009 and 2010
Now that I am a home owner, there are dates other than public holidays, birthday and anniversaries that matter... the days that the Bank of England Monetary Policy Committee decides on Interest Rates.
I thought it would be worth sharing them with you...
| 2009 | MPC Meeting | Actual Rate(My estimate*) | Rate Change |
| Jan | Wed 7 / Thu 8 | 1.5% | -0.5% |
| Feb | Wed 4 / Thu 5 | 1.0% | -0.5% |
| Mar | Wed 4 / Thu 5 | 0.5% | -0.5% |
| Apr | Wed 8 / Thu 9 | 0.5% | 0 |
| May | Wed 6 / Thu 7 | 0.5% | 0 |
| Jun | Wed 3 / Thu 4 | 0.5% | 0 |
| Jul | Wed 8 / Thu 9 | (0.5%) | 0 |
| Aug | Wed 5 / Thu 6 | (0.5%) | 0 |
| Sep | Wed 9 / Thu 10 | (0.5%) | 0 |
| Oct | Wed 7 / Thu 8 | (1.0%) | +0.5% |
| Nov | Wed 4 / Thu 5 | (1.5%) | +0.5% |
| Dec | Wed 9 / Thu 10 | (2.0%) | +0.5% |
| 2010 | MPC Meeting | ||
| Jan | Wed 6 / Thu 7 | (2.0%) | 0 |
| Feb | Wed 3 / Thu 4 | (2.5%) | +0.5% |
| Mar | Wed 3 / Thu 4 | (3.0%) | +0.5% |
| Apr | Wed 7 / Thu 8 | (3.5%) | +0.5% |
| May | Wed 5 / Thu 6 | (4.5%) | +0.5% |
| Jun | Wed 9 / Thu 10 | (5.5%) | +0.5% |
| Jul | Wed 7 / Thu 8 | (5.5%) | 0 |
| Aug | Wed 4 / Thu 5 | (5.5%) | 0 |
| Sep | Wed 8 / Thu 9 | (6.0%) | +0.5% |
| Oct | Wed 6 / Thu 7 | (6.0%) | 0 |
| Nov | Wed 3 / Thu 4 | (6.0%) | 0 |
| Dec | Wed 8 / Thu 9 | (6.5%) | +0.5% |
* - Note these estimates are completely based on my gut feeling. I take no liability if you trust too much in them.
I think that there a some significant interest rate increases ahead, but I am bullish that interest rates will be kept low for another 6 months at least.
If you are on a variable or tracker, keep your eyes open for the best time to fix your rate. There are 2, 3 and even 5 year deals out there and although it may be higher than you are paying now, over the course of the fixed rate period there is the opportunity to make some significant savings.