The cost of servicing debt looks likely to stay low as minutes of the latest Bank of England Monetary Policy Committee (MPC) meeting has revealed all of its members voted to maintain the status quo.
Quantitative easing was raised by £75 billion in October and there was no wish expressed by any member to increase that in November, or by anyone to raise the 0.5 per cent base rate.
In line with this months Quarterly Inflation Report, the MPC predicted inflation will fall swiftly in the next few months, something that would reduce any pressure for a higher base rate.
However, the exact rate at which it may fall – and the prospects for economic growth – were described as uncertain, with the eurozone crisis being cited as a major unknown factor.
Fear of what may happen in the single currency bloc is having a “chilling effect” on the British economy by reducing consumer and business confidence, prime minister David Cameron told the Confederation of British Industrys annual conference this week.
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It’s an embarrassment of riches, in this week’s look at unusual credit card crimes. I mean, should we lead off with the credit card employee who helped steal someone’s identity, or the two pals who pulled a “Weekend at Bernie’s” and went partying with a dead friend and his credit card?
I guess we’ll start with the corpse.
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