Papers look to MPC for rate rise - papers 6th May

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ALL EYES are on the City today in this morning's national newspapers, as the industry waits to see whether the Bank of England's Monetary Policy Committee increases the base interest rate, as expected.

The Times suggests the Bank of England risks "confusing financial markets if it fails today to deliver a quarter-point rise in interest rates" as there have already been several not so subtle hints from officials a rate is inevitable, given the continuing boom in house prices and no sign of a slowdown in consumer spending. MPC members have insisted that the Bank will not set rates to target house prices directly, says the Times.But the sustained strength of the market still reinforces the case for the MPC to move to cool the twin property and consumer booms. ABBEY HAS already pre-empt...

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