According to the Institute of Directors, interest rates in the UK have not yet reached their ceiling. They predict a quarter percent rise early in the new year and a further quarter percent rise later on.
Our View
Whilst the Bank of England has not increased interest rates for a while, the majority of industry commentators are just waiting for another rise. We believe that due to the lack of spending so far at the beginning of the Christmas the Bank of England will leave rates alone until January.