(1888PressRelease)
February 27, 2007 - London, 22nd February, 2007: Policy makers within the high echelons of the banking world seem undecided about further hike in interest rates.
Whereas two policymakers of the Bank of England want to raise the interest rate, other members of the Monetary Policy Committee are keen to see effects of interest hikes done over the last few months before committing to further changes. There have been three interest hikes since August 2006.
The effects seem to be negligible as far as a survey from the Confederation of British Industry is concerned. The survey claims that the manufacturer’s order books are showing the fastest records in the past 12 years. As a result, a lot of companies are positive about raising prices.
Inspite of all these predictions, the sterling fell minutes after the Monetary Policy Committee’s February 7th and 8th meeting reviews were published. Reports reveal that official representative are worried about “excessive tightening” due to the rapid change in interest rates over the last six-seven months.
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http://investing.reuters.co.uk/news/articleinve sting.aspx?type=savingAndLoansNews&storyI D=2007-02-21T130204Z_01_NOA134235_RT RUKOC_0_BOE-MINUTES.xml
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