Consumer confidence should keep rates steady

Latest figures from the Nationwide Consumer Confidence Index reveal confidence has stabilised as the Index remained flat staying at 94 points for the third consecutive month, although it remains down six points from a year ago and 16 points lower than the highest level of 110 in February last year. As a result Nationwide is predicting a 75% chance of the MPC keeping the base rate at 4.5% with just a 25% chance of an increase, arguing as it has been a year since the last rate change, a further change is unlikely while confidence remains stable. However although overall confidence levels ...