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Interest rates: Next rate rise is a long way off

bankofengland.jpgAs it has for each consecutive month since March 2009, the Bank of England Monetary Policy Committee (MPC) voted at its November 2011 meeting to maintain UK interest rates at their record low rate of 0.5%.

And as has been a common theme over recent months, analysts' expectations of when an upward move in interest rates might arrive has again moved still further into the future.

ThisIsMoney.co.uk provides a useful overview of analysts' expectations as to when interest rates might rise.

There is no clear consensus as to the exact date, but "a rise looks a long way off - as early as 2013 but could be as late as 2015, according to the range of predictions."

The MPC announces its latest interest rate decision at midday this Thursday (8 December 2011).

It seems a fairly safe bet that there will be no change in interest rates this week.

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Michael Carty | |

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