Business Services Industry
Bank of England monetary executive says interest rates 'near peak'.
Knight Ridder/Tribune Business News, September, 2004
Daily Mail, London Knight Ridder/Tribune Business News
Sep. 16--Interest rates may be nearing their peak, said Bank of England Monetary Policy Committee member Stephen Nickell. He told a conference in Birmingham that rates may not need rise much further if the recent signs of economic slowdown continue.
Nickell said: "If the weakening trend continues then rates might not have to go up by much more." His comments come after weak summer sales on the High Street, and evidence that the housing boom is over.
The Bank has raised rates five times since November to 4.75 percent. Many economists expect another quarter-which point rise in November will be the final rise.
Nickell added: "We think the housing market is beginning to turn...
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