Interest rates are set to come down this month, according to a panel of top economists.
A total of 12 experts were asked their opinion on what they thought the monetary policy committee would do and seven predicted there will be a cut.
Ross Walker, economist at Royal Bank of Scotland, predicted a fall in rates, something which could please mortgage holders .
He said: "We have a lot of really unprecedented financial market turmoil and I think [from] the latest survey data we have seen there is clearer evidence that is feeding through to the wider economy."
Others seem less sure, with Ben Read, senior economist at the Centre for Economics and Business Research predicting that interest rates will be kept on hold until at least December.
Representatives from the British Retail Consortium, Confederation of British Industry and Capital Economics agreed there will be no cut in October.
However, those from HSBC, the Royal Institution of Chartered Surveyors, Nationwide, Halifax and the Institute of Directors think a cut is likely.
Meanwhile, Ray Boulger, senior technical manager at UK broker John Charcol, suggests that a tracker mortgage might be attractive as the Bank of England base rate could fall in the near future
Interest rates set to fall, economists claim
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Interest rates set to fall, economists claim
Fri, 03 Oct 2008
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