Interest rates predicted to be held

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Interest rates predicted to be held

Wed 9th Jan 2008

The majority of financial experts polled by Adfero have predicted that interest rates will not change tomorrow (January 10th).

Lloyds TSB UK chief economist Trevor Williams, Halifax chief economist Martin Ellis and HSBC bank are some of the individuals or bodies who believe that rates will be held.

However, Barclay's Capital said it is expecting a cut of 25 per cent by the Bank of England's monetary policy committee (MPC).

Meanwhile, Howard Archer, UK chief economist at Global Insight, said that it would be "an exceptionally tight call" but rates would not change.

Ross Walker, UK economist at Royal Bank of Scotland, said that "despite some evidence of a sharper-than-expected deterioration in business and financial services", there is not yet enough evidence to support a rate cut.

The last interest rate reduction was made by the MPC in December 2007, bringing it to 5.5 per cent.

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