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Bank charges: Interest rates 'will not rise in May'

People who are having trouble with bank charges may be pleased to hear that they should not have to cope with a rise in interest rates in May.

That is if the predictions of Michael Baxter, editor of, are correct.

Mr Baxter has said that although rates will probably rise once or twice over the course of 2011, this will not happen in the near future.

He said: "I think the general feeling is that the recent run of data means that the Bank [of England] will probably delay increasing the rate of interest by a month or two.

"I still think that there still seems to be a consensus that interest rates will be going up once or twice this year."

The Bank of England's Monetary Policy Committee voted to maintain the official bank rate at 0.5 per cent on April 7th.

They will meet again on May 5th.

Jennifer Haines

Jennifer's speciality knowledge is credit card changes and balance transfers.

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