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Brokers 'expect rate hikes'
27 June, 2007
BM Solutions research has revealed that eight out of 10 expect rates to settle and end the year at or above 5.75 per cent.
June's Monetary Policy Committee minutes indicate that another increase is imminent, and a third of brokers questioned believed that the rates would be at the 6 per cent barrier as we move into 2008.
BM Solutions' One Specialist survey asked 200 intermediaries to forecast the final outcome of the monthly rate decisions throughout the year.
Iain Williamson, head of key accounts, BM Solutions, said, "Following the release of June's MPC minutes last week, there's a strong expectation that we'll see another rise in July. This research suggests that brokers don't expect this to be the last move in 2007.
"They're clearly being realistic about the market and are best placed to advise their clients in light of any changes. Whatever the direction or extent of rate rises, brokers can be sure that that we'll continue to support them with market leading products and five star service."