Money Minute Thursday 7 November: UK interest rates and house prices

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In the UK today, the Bank of England announces its latest decision on interest rates.

We’re right ahead of an election, so it’s almost certain that nothing will change. The UK’s key interest rate will stay at 0.75% and there won’t be more quantitative easing.

That said, all eyes will be on Bank of England governor Mark Carney when he speaks after the announcement. And it’s possible that there will be a few dissenters on the Monetary Policy Committee who vote for precautionary rate cuts, just in case of an economic slowdown.

We also get the latest Halifax data on UK house prices. This is likely to confirm that prices haven’t shifted much in the past year.

Later in the day, we get the latest weekly data on jobless claims from the US. The figures have been hovering near 50-year lows for some time now. Analysts will continue to monitor the data closely for signs that employment is weakening amid fears of a recession.