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No interest rate hike until 2012, say experts
Business digest: BBC poll of leading economists suggests that interest rates will not be increased today
Interest rates will most likely remain at their current record low of 0.5 per cent until some point next year, according to a BBC poll of some of the leading economists and organisations who advise the Bank of England on the matter.
Twelve out of the 32 economists surveyed believed rates would rise in the first quarter of next year. Three said that rates would not rise until 2013.
When asked for their predictions on the interest rate level at the end of 2012, 22 answered that it would be between 1 and 1.5 per cent.
Interest rates have been at 0.5 per cent for the last two years, which has led to falling mortgage rates, but also caused problems for savers. The Bank will announce this year's third-quarter interest rates later today.
Read a full report at BBC News. ·
