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Shahla Money Managing Guru

Joined: 13 Nov 2004 Posts: 3324
Cash Points ££ 126163.28
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Posted: Fri Jan 18, 2008 3:47 am Post subject: UK Interest Rates held at 5.5% and on Target for 5% by Septe |
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By: Nadeem_Walayat
The Bank of England held interest rates at 5.50% following Decembers 0.25% cut from 5.75%, with the trend inline with the Market Oracle forecast as of 22nd August 07 for UK interest rates to fall to 5% by September 2008.
Yesterdays news of the continuing deterioration of the UK economy as over indebted consumers cut back on consumption as illustrated by Marks and Spencer's announcement of a drop on Christmas sales and calls by company's chief executive, Sir Stuart Rose, joined in calls for the Bank of England to cut interest rates to stimulate the economy, would have been countered by the increasing inflationary pressures as Gordon Brown seeks to restrain the public sector pay via a three year pay deal. Which is likely to lead to major tensions with the Unions.
http://www.marketoracle.co.uk/Article3329.html |
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