Monday, July 2, 2007

A large majority of City economists believe that the Bank of England’s Monetary Policy Committee will turn the interest-rate screw again on Thursday and order a further quarter-point rise in borrowing costs to a new six-year high of 5.75 per cent.

Surge in financial services set to slow as rates bit

The boom in Britain’s financial services businesses is set to lose steam during the present quarter, institutions across the industry predict, according to a key survey released today. Business volumes across the banking, securities, insurance, fund management and building society sectors rose at their fastest pace in more than seven years over the past three months as financial groups enjoyed a third quarter in a row of strong growth, the survey from the CBI and PricewaterhouseCoopers found.

Posted by chris @ 12:56 AM (281 views)
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2 thoughts on “A large majority of City economists believe that the Bank of England’s Monetary Policy Committee will turn the interest-rate screw again on Thursday and order a further quarter-point rise in borrowing costs to a new six-year high of 5.75 per cent.

  • The longer the supply line gets the more vulnerable it is to shocks. Cheap money becoming expensive money will be the eventual downfall.The collapse will be a spectacular.

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  • “A large majority of City economists…”

    For once I agree with them, 0.25% for sure.

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