Rates held as factory output falls - Papers 14 January

The Telegraph says some economists believe the base rate has peaked at 4.75%, and the next move will be downwards. Factory output figures from the Office for National Statistics revealed an unexpected fall of 0.1% in November, matching the unrevised fall for October, confounding economists' expectations of a 0.3% rise. The level of manufacturing output was unchanged on the year. Economists say the data provides further evidence to the Bank rates do not need to go up again, while pointing to cooling in the housing market as a reason for further downward pressure on rates. Meanwhile, th...