Interest Rate Decision Prompts Future Predictions
Prompted by signs that the economy is slowing down, The Bank of England has cut UK interest rates to 5.5% from 5.75%. Henk Potts, equity analyst, Barclays Stockbrokers says: “A combination of slowing growth, a cooling housing market, declining consumer confidence and soft retail sales led to today’s cut, and we think these factors will continue to keep pressure on the Bank of England to cut rates. We are currently predicting that rates will be reduced again in February and May, taking us back to 5%.”
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