The Bank of England has just voted 8-1 for a hold in interest rates, at least someone isn't panicing like the Fed !
Smart money would be on a .25% drop again next month and that's where my money would go as they have commented that the risk of higher inflation has "worsened markedly" and even Mervyn King mentioned this in his speech last night.
Energy costs must be pressing on inflation as well as some pay settlements (except the Police) and it seems likely a small cut will be needed to keep things ticking along.
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