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Interest rates predicted to dip before they rise

Market experts predict the Bank of England will keep interest rates on hold this week and predict they are likely to dip before they rise.

The Bank of England base rate is expected to remain at 4.75 per cent this week, and there are no signs for an increase, says Hometrack senior economist John Wriglesworth.

Wriglesworth says: “There is no doubt that the interest rate will remain stable. I dont foresee any changes taking place, not this year. Perhaps the housing market will bump along for some time, but there is certainly no real evidence of a boom.

“The sentiment, really, is that interest rates will go down, if anything. Its not just the housing market, but retail needs to be considered as well.”

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