UK Money News
9th January 2008
Base rate 'likely to be maintained on Thursday'
Many personal finance institutions are expecting the interest rate to be maintained when the Bank of England makes its monthly announcement tomorrow, it has emerged.
A poll of such institutions found that the majority expect the Bank's monetary policy committee to leave the base rate untouched at 5.5 per cent, following a cut in December.
Global Insight, Lloyds TSB, Halifax and Capital Economics are among those institutions who do not expect the rate to be altered.
However, Barclays Capital has suggested that a quarter per cent rate cut could be in the offing.
Simon Hayes, UK economist at the organisation, comments: "We are changing our rate view. We now expect 25 base point rate cuts in January, February and April, taking Bank Rate to 4.75 per cent.
"We had previously expected cuts in February and May."
Before the rate cut in December the Bank elected to increase rates on a series of occasions stretching back to August 2006.
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