BusinessCompany NewsInterest rates to rise

Interest rates to rise

The Bank of England is almost certain to raise interest rates from 3.75% to 4% this week.

Link: Lies, damn lies and statistics …

The increase, seen as almost inevitable in the City, will be announced on Thursday.

It will be the first 0.25% rise by the Bank’s monetary policy committee since a similar hike in interest rates last November.

And it has led to increased speculation among economists that this month’s predicted rise is just the first of several that will happen this year.

Experts have predicted at least four increases this year as the Bank tries to head off future inflationary pressures for the UK economy.

One survey of business leaders by financial research company Ideaglobal.com, predicted that the rate would reach 4.5% by June.

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