Lloyds TSB predicts interest rate fall next year
www.moneynews.co.uk > General finance > Lloyds TSB predicts interest rate fall next year
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Lloyds TSB predicts interest rate fall next year
Wed 5th Dec 2007
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Trevor Williams, UK chief economist for Lloyds TSB, explained that the bank expects that rates will be held at 5.75 during the upcoming decision for this month.
However, he said that there are likely to be lower rates in the new year, saying: “There will be a cut probably in May and another one mid-year and I think rates will get down to five per cent during 2008 as the economy slows.”
He added that the MPC is waiting until it has “evidence” that inflation will be a problem before the base rate is adjusted.
Mr Williams said that it is likely that the committee will not yet feel that it has that sort of evidence.
At the end of 2006, Lloyd TSB’s total group assets were £344 billion and it had around 63,000 employees.
Related News : General finance |
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Related News : LloydsTSB |
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