Economists predict no change on interest rates

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Economists predict no change on interest rates

Fri 3rd Apr 2009

A poll of leading economists has revealed that not one is expecting a change in the base rate of interest this month.

Adfero spoke to nine economic experts about their expectations for next week's meeting of the Bank of England's monetary policy committee (MPC) and found that all believe the rate will stay the same.

Last month's meeting saw the MPC lower the base rate from one per cent to 0.5 per cent - reducing what was already the lowest level of interest that had ever been set in the Bank's history.

One of the respondents, Defaqto's Michael Baxter, said: "I think in a way it is over to the European Central Bank now, I think it's their turn to start the rate of interest," adding that he thinks the UK rate will stay the same for the foreseeable future.

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