7
Apr
Interest rates 'will be cut'
The base rate of interest is likely to be cut in the coming week by
the Bank of England, it has been predicted.
Most of the respondents to a survey from the British Chambers of
Commerce stated that they think the rate will have to be trimmed as
companies are fearful of the present economic situation, reports
Home Move.
In total, 75 per cent of respondents to the report said that they
expect rates will be cut by 0.25 per cent, something that may
impact on those with mortgages.
The report is due for release in the coming week, as the Bank's
monetary police committee announces its latest decision.
Another poll carried out by Adfero last week saw the majority of
those questioned forecast a cut to the base rate of interest.
Only analysts at Lloyds TSB and HSBC argued that rates will stay on
hold at 5.25 per cent until May, when more inflation data will be
available.