Interest in rates - papers 1 August

The FT says a cut would mark exactly a year since the last increase, which took the base rate to 4.75%. But, with increasing evidence of a slumping economy, flagging consumer spending and a manufacturing sector in recession, money market deals all point to a 25 points cut and a turn in the credit cycle, the paper writes. The Times says last month’s marginal vote to retain rates at their current level will be overturned in the wake of further revisions to GDP data, which now suggest second quarter growth was the worst for more than a decade. What is less certain, however, is how fa...