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Quarterly Newsletter - Autumn 2009

It is now almost official: interest rates are going to stay low for years.  The Centre for Economics and Business Research (CEBR), the highly regarded independent consultancy, this week predicted that the Bank rate will stay at 0.5% until 2011 and not rise to 2% until 2014!  The CEBR’s forecast is assuming substantial fiscal tightening – £20 billion of tax increases and £80 billion of spending cuts over the lifetime of the next parliament – and the likelihood of the Bank of England extending its policy of quantitative easing.