Barclays Stockbrokers predicts the MPC will cut rates

Henk Potts, Investment Analyst, Barclays Stockbrokers, comments on the forthcoming interest rate announcement: “The pressure has been building and building on the Bank of England to cut interest rates this week. A mixture of a weakening property market, tightening credit conditions and falling business and consumer confidence are all conspiring to force the Monetary Policy Committee to act sooner rather than later.

“We expect a quarter point cut on Thursday and further quarter point cuts in February and April, taking interest rates back to 4.75%.”