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10 July 2008: Barclays Stockbrokers comments on today's interest rate decision to hold


With growth slowing sharply and inflation likely to peak in the autumn, there is still the risk for a rate cut before year-end.


Barclays Stockbrokers, 10 July 2008

Commenting on today’s MPC interest rate decision, Henk Potts, Equity Strategist at Barclays Stockbrokers said:  “UK economic news flow has deteriorated markedly, with activity slowing and inflationary pressures building. Housing market weakness is intensifying and the slowdown has now spread to the key services sector.

“The tone emanating from policymakers has been somewhat more hawkish of late. The minutes of the latest Bank of England meeting and Governor Mervyn King’s Mansion House speech were on the hawkish side, suggesting that rates are likely to remain on hold in 2008. That said, with growth slowing sharply and inflation likely to peak in the autumn, we still suspect that the risk is for a rate cut before year-end.”

For further information contact:

Caroline Wells / Nicola Hankey
PR, Barclays Wealth
020 7114 7435 / 020 7114 9813

OR

Katie Hayward / Katherine Hobby
Lansons Communications
020 7294 3631 / 020 7566 9704
mailto:9704katieh@lansons.com / katherineh@lansons.com

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