Interest Rates to Rise in February?
Good high street sales figures may signal a rise in interest rates during February review
23rd January 2004
Better than expected retail sales figures in December 2003 have fueled speculation that the Bank of England will raise interest rates in its February review.
Sales in the final month of 2003 rose by 0.9% - twice the amount widely expected - meaning an increase in sales of 4% over the whole year.
The Bank of England is charged with the responsibility of keeping inflation within government targets, and analysts expect a quarter-point rise in the interest rate in February to dampen spending growth.
Read More: BBC Report, On Business
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