Interest rates forecast to rise in 2015
Interest rates will rise in the second half of 2015, a year earlier than the Bank of England planned, according to today’s forecast from the National Institute of Economic and Social Research (NIESR).
The think-tank estimates the economy will grow by 1.4 per cent this year, accelerating to 2 per cent in 2014.
The Bank of England has said that it will not raise the base rate until unemployment falls at least below 7 per cent.
In August it said it did not expect this threshold to be reached until the second half of 2016. But NIESR forecasts that there is a 20 per cent chance that joblessness will fall to that level, from its present rate of 7.7 per cent, by the first quarter of next year.
The think-tank expects GDP to regain the ground it lost in the 2008-09 recession by 2015. It is presently 2.5 per cent smaller but NIESR added that GDP per capita would still be well below its 2008 level in two years’ time.
elephant appealThe first 23 lots in our charity auction have now gone. But there are 22 more still up for grabs
From rainforests and reefs to beaches and boat trips
comedy'Fresh Meat' star sees off stiff competition from Alan Carr, David Mitchell, Graham Norton, Lee Mack and Sarah Millican to win top prize
Mystery of Epping Forest 'big cat' is solved
North Korea: First Kim Jong-un orders execution of uncle - now it emerges that victim's wife was involved in decision to execute him
Australia incest case: Deformed children found in remote farming community after generations of inbreeding
Woman who miscarried in private prison 'made to clean up after herself,' court told
Fox News presenter tells viewers it is a 'fact' that both Jesus and Santa Claus are white
- 1 Italian court annuls prison sentence for elderly paedophile after 11-year-old victim tells investigators in Catanzaro that she loves him
- 2 Australia incest case: Deformed children found in remote farming community after generations of inbreeding
- 3 Woman who miscarried in private prison 'made to clean up after herself,' court told
- 4 Physicists discover 'clearest evidence yet' that the Universe is a hologram
- 5 Fox News presenter tells viewers it is a 'fact' that both Jesus and Santa Claus are white
- < Previous
- Next >
iJobs Money & Business
£40000 - £60000 per annum + Bonus + Benefits: Harrington Starr: Risk Managemen...
£Attractive Package: Citifocus: This is a new role offering the successful can...
£250 - £300 per day: Harrington Starr: Help drive the design, utilization and ...
£32000 per annum: Harrington Starr: Desktop Support (client facing, 1st/2nd Li...