Interest Rates To Stay At 5%
Published / Last Updated on 09/07/2008
Interest Rates To Stay At 5%The Bank of England Monetary Policy Committee has met today and decided to keep interest rates at 5.0%. This follows calls by many to reduce interest rates to stimulate a flagging economy.
Our view
We suggest this is the right decision but it was a close call. There are reasons to increase rates such as inflation but there are also reasons to cut rates such as a slowing economy.
We believe there will be no further rate changes until towards to end of summer (that is if we get a summer)
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