Lloyds TSB: Interest rate hold was right decision
www.moneynews.co.uk > General finance > Lloyds TSB: Interest rate hold was right decision
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Lloyds TSB: Interest rate hold was right decision
Thu 10th Jan 2008
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Trevor Williams of Lloyds TSB said that it was not yet time to cut interest rates and the committee was right to wait for more data before doing so.
"Inflation is the key concern of the MPC and they clearly wanted to wait until February's quarterly inflation report … for reassurance that the time is right to cut interest rates," he commented.
Increases in energy prices, the housing market slowdown and falls in retail sales will all be incorporated into the upcoming inflation report, he added.
Mr Williams said that next month's decision is also likely to be "close", though he predicted that the financial situation will be "gloomy" enough to warrant a rate cut.
In December, the MPC decided to cut the base interest rate from 5.75 per cent to 5.5 per cent.
Related News : General finance |
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Related News : LloydsTSB |
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