Interest rates to go up in Spring 2010

Nia Williams

December 21, 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.”

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