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Article: MPC likely to conclude strategy is working and make further cut; Economist with IHS Global Insight Howard Archer on tomorrow's decision on interest rates.(Business)
- Article from:
- Western Mail (Cardiff, Wales)
- Article date:
- February 4, 2009
CopyrightCOPYRIGHT 2009 MGN Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Howard Archer
ONCE again the Bank of England's Monetary Policy Committee head into their monthly meeting under severe pressure to cut interest rates.
With GDP suffering its largest drop in nearly 30 years in the fourth quarter of 2008, latest data and survey evidence largely reinforcing belief that the economy is poised to suffer in 2009 the largest single year contraction since World War II, credit conditions remaining extremely tight, and a period of deflation highly possible in the second half of this year, the pressure on the Bank of England to ...