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B C C Say No To I R Hike--Economy Too Weak And Deteriorating

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Sky News 2011, 7:22, Tuesday 8 March 2011
A business group has called on the Bank of England
not to risk economic growth by increasing the base rate
of interest in the short term.
Ahead of this month's rate decision on Thursday, the British Chambers of Commerce says it expects a rise in May but such a move would be "premature and risky".
The BCC has forecast that rates will reach 1.25% by the end of the year but also downgraded its GDP estimate to 1.4% from 1.9%.

Seems everything is falling that drives the economy, first house prices, retail, cars especially, exports, jobs........ When all of those items combine a serious recession is inevitable making future price increases, without wage inflation, impossible.

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