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LONDON, Jan 10: The Bank of England on Thursday left its key interest rate at 5.50 percent, opting against a second cut in a row despite the twin threats of rising inflation and slowing economic growth.
We suspect that the MPC vote to leave interest rates unchanged today was extremely close, and we believe it is highly probable that the Bank of England will cut interest rates by a further 25 basis points to 5.25 percent in February as evidence mounts that the UK economy is faltering, said Howard Archer, chief Britain economist at Global Insight.
Indeed, we now expect interest rates to be down to 4.50 percent by the end of the year, he added.—AFP
