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Brokers expect MPC to keep base rate at 5%

Over 75 per cent of Pink Home Loans’ brokers expect the Bank of England to keep the base rate at 5 per cent in June.

The firm surveyed 100 brokers and found only four per cent expect rates to go up. The remaining 20 per cent are anticipating a cut when the Monetary Policy Committee gets together tomorrow and Thursday.

Associate director of marketing & IT Neil Hoare says: “I agree with the majority of our intermediary customers, that we will see no change in the base rate during June. However, recent announcements that food inflation is running at 6 per cent and prices are still on the rise will no doubt put pressure on the MPC and give them some difficult decisions to bring inflation inline with their targets for 2008.”

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