Bank of England expected to keep benchmark interest rate on hold as consumer confidence plummets
Jul 9th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Bank of England is expected to leave UK interest rates unchanged at 5% on Thursday despite inflation concerns. Today, the Nationwide Consumer Confidence Index was reported to have fallen four points to 61 in June amidst ongoing economic uncertainty, a weakening housing market and the higher cost of food and fuel have all contributed to the growth in negative impact on consumer sentiment.