Bank of England and ECB Hold Interest Rates, FTSE Bounces

The FTSE rose 0.8% yesterday on news that the Bank of England and the European Central Bank were not going to raise interest rates.

The FTSE is an index of the leading companies in the UK and represent the UK stock market.

Leading the rise was the banking industry as banking stocks added 19 points to the FTSE Index.

Banks had done badly the day before, on scares about the state of the credit market, particularly with American Home Mortgage having its trading halted and then claimed insolvency.

The FTSE finished up 49.7 points at 6,300.3 and other European Index’s also closed higher and investors also saw Wall Street putting on gains.

Do you think that the next move in interest rates is up or down?

Or are interest rates going to stay the same for a while?

Whatever country you are in, where do you think your interest rates are going?

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