Interest Rate Cuts Expected Today
Published / Last Updated on 03/12/2008
Interest Rate Cuts Expected Today
The Bank of England Monetary Policy committee meets today and further interest rate cuts are expected.
Calls have been made to cut rates by as much as 1%, down to 2% meaning the lowest central bank base lending rate in the UK since 1951.
Many are suggesting though that rate cuts will not be passed to the public.
We suggest a balance will need to struck between passing interest rate cuts on to the consumer to encourage the economy as well as some retention to give beleaguered some profit margin and therefore the hope that lending will increase to business needing short term funding.
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