Summary
THE Bank of England yesterday signalled UK interest rates were headed upward, but that there was no need for them to be raised either soon or by much.
Its latest quarterly inflation report, while extinguishing any lingering hopes of a further cut in the base rate from 4.5-per cent, did not signal any need for it to move higher than 5-per cent at any point during the Bank's chosen two-year time horizon or even out to 2009.See the full content of this document
Extract
Eventual Rise in Base Rate Signalled by Bank
Economists now predict rates will be held into next year.
The base rate has been maintained at 4.5-per cent at each of the last nine monthly meetings of the Bank's monetary policy committee. The inflation report appears to signal the current phase of constant rates could eventually exceed the lon...See the full content of this document
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