The MPC has again chosen to keep the base rate at 0.5%. In my opion an increase remains out of the question while the economy is in such as poor state, despite the rising inflation. High street sales dipped again in May and the growth forecasts have been reviewed downwards - again !
The amusing thing I find (if it's possible in the midst of the deepest darkest recession ever) is that in so many articles and reports 'experts' categorically state that there will be X% growth by this date, interest rates will rise to this amount by that date, etc. It's not that they get it wrong, it's just the manner in which they state it, the 'matter-of-factness' in how they make the prediction. It's a fact. It's unquestionable. It's just a load of rubbish!