UK interest rates can only head one way and that is up according to comments by Bank of England Monetary Policy Committee member Paul Tucker, carried in The Scotsman.
The comments came during a visit to Edinburgh yesterday, in which he stressed the point consumer spending has remained virtually unchanged despite two increases in the base rate since November. Combined with global economic recovery, the strength of UK consumption would squeeze out "slack" within the economy, creating inflationary pressures. "Gradually one would expect interest rates to rise," the paper quotes Tucker. CALLS FOR compensation to be paid to Equitable Life policyholders through the Financial Services Compensation Scheme will be resisted by other life companies, which do...
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