Business Services Industry
Bank of England predicted to keep interest rates steady.
Knight Ridder/Tribune Business News, December, 2004
By Ruth Sunderland, Daily Mail, London Knight Ridder/Tribune Business News
Dec. 6--The Bank of England is widely expected to leave interest rates steady at 4.75 percent for the fourth month in a row on Thursday. Evidence is mounting that its five rate increases so far have begun to deflate the credit boom on the High Street and in the property market.
Retailers are braced for a tough Christmas, according to the latest BDO Business Trends monitor, while Halifax is predicting a 2 percent fall in house prices next year.
Inflation, which rose to 1.2 percent in October, is still well below the Bank's 2 percent target, though soaring oil prices have exerted upward pressure on prices.
A recent reverse has prompted key Opec producers...
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