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Loan Protection: No interest rate rise 'until Sept 2011'

Interest rates are not expected to rise until September 2011 as the government strives to protect the economic recovery.

Nick Scarrett, head of investment and pensions at Fair Investment Company, claimed the base rate could stay at 0.5 per cent until "this time next year".

He said: "The Bank of England is almost certainly going to leave the base rate as it is on Thursday in an attempt to protect the economy's somewhat muted recovery from a deep recession.

"Although many economists are predicting rises earlier than originally thought, there is still no real suggestion that the rate will rise by this time next year."

It appears the British public disagree with Mr Scarrett, as 69 per cent of those surveyed by the Fair Investment Company claim the base rate will rise over the next 12 months.

The Monetary Policy Committee is due to meet tomorrow (9th September) to decide if rates should be changed.

Posted by Charles Baker

Charles is a reputed financial analyst with almost decades of experience under his belt ADNFCR-2776-ID-800057774-ADNFCR

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