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FINANCIAL TIMES Eurozone dismisses Greek budget deal - Thu, 09 Feb 2012 18:58:47 GMT
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BBC NEWS BBC News - Business - Fri, 10 Feb 2012 04:58:18 GMT
BBC News - Business - Fri, 10 Feb 2012 01:09:35 GMT
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IMF forecast could signal no scope for interest rate cuts.
The International Monetary Fund (IMF) forecast predicts that inflationary pressures will continue, thus giving the Monetary Policy Committee little scope to cut interest rates.
This view on inflation is at odds with the latest OECD forecasts which were of the view that inflationary pressures would ease, as long as commodity prices remained steady, thus giving scope for interest rate cuts.
The IMF report into growth prospects forecast that the UK economy would grow by 1.4% in 2008 and 1.1% in 2009, which represents a downgrade from the July forecast of 0.4% and 0.6% respectively.
The govenment forecast for growth next year remains at around 2.5%, so it will be interesting to see if these are revised downwards when considering the next budget.
- Nationwide Consumer Confidence Index stabalises
- Abbey cuts rates again
- moneysupermarket.com questions Skiptons boast of supporting first time buyers
- House prices continue to decline
- FSA fines mortgage firm £63,000 for serious regulatory failures
- An opportunity missed as interest rates are held.
- Accord slashes rates
- Base rate cuts on the way says Charcol
- Mortgage rates returning to pre credit crunch levels
- Standard Life Bank announces new Freestyle® mortgage rates
- Yorkshire Building Society cuts the cost of its 2 year fixed rate mortgage to 5.29 per cent.