Interest rate uncertainty subdues confidence

The latest instalment of the Nationwide Consumer Confidence Index shows a three point increase in March to 88, however it points out confidence is still subdued and “well below” the levels seen during the first half of 2006. And Nationwide suggests the impact of higher interest rates is partly responsible for this subdued mood, with the Bank of England scheduled to make its monthly rate decision tomorrow. However the company says a three point rise in the Present Situation Index, to 87, suggests for the first time in four months consumers seem to be happier about the current economic an...