UK Money News
5th December 2007
Interest rates 'will not change in December'
Market analysts throughout the UK do not believe that interest rates will be changed tomorrow, it has emerged.
A poll of a number of commentators suggests that the personal finance sector does not think the Bank of England's monetary policy committee (MPC) will elect to change rates in December, in news unlikely to be welcomed by the nation's borrowers.
Spokespeople for the Centre for Economics and Business Research, the Royal Bank of Scotland and Lloyds TSB all said they thought the MPC would hold rates at 5.75 per cent.
However, Howard Archer of market analyst Global Insight was less certain in his appraisal.
"It is obviously extremely tight. We are going for no change, but we wouldn't be surprised if they do. It's right on the margin," he remarked.
An reduction in interest rates would normally be followed by a similar cut in variable rate mortgage costs, as well as in interest rates on savings accounts.
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