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Experts predict no change in interest rates
5 March, 2008
Financial experts have predicted that their will be no change in interest rates when the Bank of England Monetary Policy Committee (MPC) makes its decision tomorrow.
Financial experts have predicted that there will be no change in interest rates when the Bank of England Monetary Policy Committee (MPC) makes its decision tomorrow.
In a poll conducted by Adfero, all of the eight experts who were asked for their predictions on the decision said they believed there would not be a cut.
Jeavan Lolay, economist for Lloyds TSB, said: "We're predicting no change next week. We had a rate cut last month, and reading from the minutes of that, the key message is that the members of the MPC are concerned about the trajectory for inflation in the short term."
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He added that the committee are not yet "fully agreed" about the risks of the secondary effects of inflation going into wages.
The MPC will announce the decision on March 6th after its monthly meeting, which lasts two days.
Last month the MPC voted to cut interest rates from 5.5 per cent to 5.25 per cent.
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