3 Mar

Analysts predict rate hold

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.ADNFCR-1222-ID-18492226-ADNFCR

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