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Can the MPC continue to keep interest rates as they are with inflation at 3%? PDF Print E-mail
Friday, 09 February 2018
Following the Bank of England inflation report and MPC interest rate decision, Richard Pike, Phoebus Software sales and marketing director, says “Although inflation edged back in December it is still 50% above the target set by the government.  The MPC forecasts that inflation will remain at this level, at least in the short term, which puts more pressure on the bank to act.  With this in mind, I expect to see a further base rate rise sooner than we would have expected at the end of 2017.  A rise would clearly have an effect on mortgage rates for new and existing borrowers and so it will be interesting to keep an eye on movement in swap rates.  Clearly, any upward movement will put further strain on indebted households and this could have a far wider effect on the UK economy in general.”  

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