Abbey: Rate cut could boost consumer confidence
www.moneynews.co.uk > General finance > Abbey: Rate cut could boost consumer confidence
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Abbey: Rate cut could boost consumer confidence
Thu 10th Apr 2008
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Barry Naisbitt suggested that slowing economic growth and a weaker housing market prompted the Bank's decision.
He noted that the monetary policy committee (MPC) has taken a "forward-looking view" which focuses on medium-term inflation, but that it is also aware that rising food and fuel prices are likely to raise inflation in the near term.
"The Bank of England's Inflation Report spelt this out and the MPC will be monitoring trends in both inflation and growth very carefully as this higher inflation emerges," he added.
In other news from Abbey, the bank announced yesterday that it was raising the rates on its 50 plus saver accounts for those who put away large sums of money, to 6.5 per cent.
Related News : General finance |
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Related News : Santander |
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