3
Mar
Analysts predict rate hold
All of the officials recently polled by Adfero have claimed that
the Bank of England's monetary policy committee (MPC) will hold
interest rates this week, something that could impact on those with
mortgages.
One of these is the chief European and UK economist at Global
Insight Howard Archer who noted that despite economic slowdown it
is "too soon" for another cut.
Such thoughts were matched by an economist at Lloyds TSB Jeavan
Lolay, who stated that inflationary concerns are on the minds of
those in the MPC.
"With it being the month of the UK budget, although that shouldn't
influence the Bank's decision, they may want to wait to see what
factors and considerations are taken into the Budget," the expert
stated.
Economist at the Royal Bank of Scotland Ross Walker, chief group
economist at the Halifax Martin Ellis and the HSBC all went for the
same outcome.
The base rate of interest was cut to 5.25 during the last meeting
of the MPC in February.