UK interest rates set to stay at current level

UK interest rates will stay at their current level for the foreseeable future based on current economic indicators, according to Gerrard chief economist Simon Rubinsohn. He said: 'Reflecting both the contents of the Inflation Report and the recent labour market data, it is hard to escape the conclusion base rates are on hold for the foreseeable future. 'Some commentators will no doubt begin to talk about the timing of the first increase in interest rates, given the upside risk to inflation outlined by the Bank of England. But we believe that this is way too premature. 'Indeed, shoul...