Experts predict Bank will hold rates

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Experts predict Bank will hold rates

Fri 2nd May 2008

Economists and financial institutions have predicted that the Bank of England will hold interest rates at five per cent this month.

Of nine experts polled by Adfero, six said definitively that they believed there would be no change in May, including economists from Halifax and HSBC.

Two further respondents - Richard Snook from the Centre for Economics and Business Research and a spokesperson for Nationwide - predicted that there is a 70 per cent change that the Bank will hold rates.

In addition, Howard Archer, chief European and UK economist at Global Insight, said it was likely that the base rate would remain at five per cent, but it is impossible to say for sure as "it is looking a closer call by the day".

The Bank's Monetary Policy Committee is due to announce its decision on interest rates at 12 noon on Thursday May 8th.

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