The Bank of England's Monetary Policy Committee faces one of its most difficult decisions over interest rates today, as calls grow for a cut to kick-start lending, despite inflationary pressures, The Telegraph reports.
With mortgage lenders continuing to increase rates, house prices falling and the IMF downgrading its growth forecasts, economists have urged the MPC to cut rates by at least a quarter point. But they noted that the Bank must walk a fine line between trying to restore optimism while controlling inflation. The Bank will give its decision at noon today. Forecasters are almost unanimous in anticipating a quarter-point cut to 5%. THE POUND SLUMPED to a fresh record low this morning, bringing more bad news for British holidaymakers as it pushes up the cost of continental breaks, according ...
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