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Stuart Law, Chief Executive of Assetz PLC, comments on today’s inflation figures, as the CPI remains at 2.1%

18th December 2007 | back to article listings BACK    print this article PRINT

“Today’s CPI inflation figure, which remains at 2.1%, may be slightly over the target of 2%, but we are now beginning to witness a downward trend. Scare mongering over energy and food inflation is proving ill founded, at least in the short term.

“I look forward to significant interest rate reductions being comfortably achievable early in 2008, and I would expect rates to be down to 5% by August next year. In fact, it is quite possible that the Bank of England will go further and reduce rates to 4.5%, or even lower, with the current inflation data suggesting this level of interest rate reduction is achievable, without necessarily inducing inflationary effects.

“In conjunction with the recent injection of liquidity into the lending markets, the Bank of England can also calm the nerves of the banking sector with base rate reductions, whilst at the same time bringing relief to homeowners and property investors alike through a significant reduction in borrowing costs next year."

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