英国商会:英镑利率将与8月上调

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根据每日邮报报道，英镑利率之前一直保持在0.5%的最低值，英国商会表示，利率将在今年8月上调，并在2012年底缓慢上升到2.75%。



[来源：每日邮报 8月30日]

http://www.dailymail.co.uk/money ... ugust-says-BCC.html

Rates will increase in August, says the British Chambers of Commerce

By Hugo Duncan

Last updated at 9:04 AM on 30th May 2011

Households will be clobbered by an interest rate rise this summer despite weaker than expected economic growth, business leaders warn today.

The Bank of England will raise rates for the first time in four years in August in a desperate effort to tame rampant inflation, the British Chambers of Commerce says in a report.

It will cause mortgage misery for many hard-pressed families already struggling to make ends meet. But it will be welcomed by savers, who have lost out since rates hit 0.5 per cent more than two years ago.
Up: The Bank of England will raise rates for the first time in four years in August, business leaders say

Up: The Bank of England will raise rates for the first time in four years in August, business leaders say

The report reckons rates will go up to 0.75 per cent in August, reach 1 per cent by the end of the year and hit 2.75 per cent by the end of 2012 – adding hundreds of pounds to monthly mortgage bills. It comes after Lloyds Banking Group warned that tens of thousands of its mortgage customers could face severe financial difficulty when rates rise.

Tim Tookey, the bank’s finance director, said that while higher rates could improve margins for the industry, any benefit would be offset by households struggling to afford mortgage repayments.

The BCC has downgraded its economic growth forecasts for this year and next.

In a blow to George Osborne, it says the economy will grow by 1.3 per cent in 2011 and 2.2 per cent in 2012, rather than the 1.4 per cent and 2.3 per cent forecast in March and 1.7 per cent and 2.5 per cent expected by the Treasury. But in a boost to the Chancellor, the BCC does not think there will be a double-dip recession and remains fully behind the austerity package.

‘A new recession will be avoided in spite of the tough deficit-cutting plan, and the recovery will gradually gather momentum,’ the report says.

‘The government must persevere with implementing its fiscal plan. Eliminating our structural deficit over the next few years remains a top policy priority.’

The BCC expects the economy to grow by just 0.3 per cent in each of the second and third quarters of this year before picking up to 0.6 per cent in the final quarter.

It calls on ministers to develop ‘a more effective growth strategy’ to support the £81bn of cuts to government spending and warns that borrowing will not fall as quickly as planned.

The BCC says unemployment will rise by 150,000 to 2.6million, or 8.1 per cent of the workforce, by this time next year – 50,000 less than previously expected.

David Kern, the BCC’s chief economist, said: ‘Our new forecast assumes that Bank Rate will start increasing in August.

‘Although we would prefer the monetary policy committee to wait until the fourth quarter, we believe British business will prove sufficiently robust to avoid a new recession.

‘But the MPC must act with great caution. Premature interest rate increases would be risky and could derail the fragile recovery.’

Read more: http://www.dailymail.co.uk/money ... .html#ixzz1NqdgBdus

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