OECD warnings puts rates on downward path - papers 25 May

The Guardian says Richard Lambert, member of the Bank of England’s Monetary Policy Committee, yesterday warned that slow consumer spending was too consistent to be a statistical quirk. ”His view seems at odds with the Bank's central forecast which is that the slowdown in consumption of the past few months should prove temporary, but chimed with the OECD's conviction that spending is strongly linked to the state of the housing market,” The Guardian writes. The Organisation for Economic Cooperation and Development’s half-yearly report suggests the UK rates cycle has peaked at a base rat...