Rates may rise above 5% by the end of 2004 - papers 20th May

The Daily Telegraph says minutes of the Monetary Policy Committee’s latest meeting revealed the members had even considered a half-point rise earlier this month before deciding to raise rates from 4% to 4.25%. Financial experts now believe rates are likely to increase to 4.5% next month as the MPC seems to be committed to raising rates more quickly than in the past in order to slow consumer borrowing and house price inflation. IN THE meantime, battered and bruised insurer Equitable Life yesterday gave policyholders a ray of hope after saying it was confident a new parliamentary inqui...