Monday, Apr 30, 2007
Many more interest rate rises to come!
BBC News: Interest rates 'must hit 5.75%'
The Bank of England should raise interest rates to 5.75% by June in order to guard against wage-driven inflation, a think tank has warned.
While rates are expected to go up from 5.25% to 5.5% next month, the National Institute for Economic and Social Research says a bigger rise is needed.
It points to the fact that the UK's retail price inflation (RPI) rate is currently at a 16-year high of 4.8%.
RPI is the basis for many annual pay deals agreed at this time of the year.
Posted by king of fools @ 01:32 PM (35 views) Add Comment
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