Global Insight: Interest rates likely to stay unchanged this year
www.moneynews.co.uk > General finance > Global Insight: Interest rates likely to stay unchanged this year
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Global Insight: Interest rates likely to stay unchanged this year
Tue 5th Aug 2008
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Howard Archer, economist at Global Insight, said the Bank of England monetary policy committee is likely to keep interest rates the same until the end of the year when rates can be cut.
Mr Archer said he expected the next move to be "ultimately downwards".
He explained: "Over time very weak economic activity and rising unemployment should help to keep a cap on inflation pressures."
This, he said, should enable the Bank of England to cut rates eventually.
Inflation is currently at five per cent, a figure which was held last month.
Previously, the change to the rate was a reduction of 0.25 percentage points to five per cent on April 10 this year.
Global Insight provides political, economic and financial coverage of countries, regions and industries.
Its remit spans over 200 countries and 170 industries.
Related News : General finance |
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