Interest rates to go up in Spring 2010

Interest rates are expected to go up in the Spring of next year, reaching 2% by the end of 2010, according to the CBI.



21 December, 2009

Ian McCafferty, CBI chief economic adviser, said: " The UK Bank rate is forecast to start rising in spring 2010, as the Bank of England withdraws some of the monetary stimulus in order to minimise the risk of undesirable inflationary pressure in the medium term. The Bank rate is expected to reach 2% by the end of next year, with no further rises during 2011, to assist the sustainability of the recovery as fiscal policy begins to tighten."




Your Comments
0 Comment(s)

Have Your Say

Loading