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info@sturgessvandamme.co.uk

Telephone: +044 01275 349 011

Fax: +044 01275 349 368

COMMENTING ON THE BANK OF ENGLAND'S INTEREST RATE DECISION, MATTHEW MCKAIG, DIRECTOR IN THE WEST OF ENGLAND, SAID:

“The Bank of England was right to hold policy steady today but we suspect that if the economic news flow continues to deteriorate over the balance of this month, it will have to lower interest rates when it meets again in February.

“In particular, it will need to keep a close watch on the next batch of retail and housing numbers for signs that consumer confidence is showing further signs of weakness.

“While the inflation risk can‘t be dismissed too lightly, we continue to take comfort from the underlying picture on wage settlements which is more benign that some recent headlines have suggested.

"We expect a quarter cut in the base rate next month to 5.25 per cent and believe that this will be followed by a further move in the second quarter of the year."

 

ENDS             10th January 2008

For further information please contact Neil Fraser, Sturgess Van Damme, on 01275 349011 or email neil@sturgessvandamme.co.uk