Consumer confidence is faltering anew, which does not bode well for spending in the near term at least.
More Quotes from Howard Archer:
What happens after the October meeting is far from clear.Howard Archer
The earnings data may encourage the Bank of England to hold off from cutting interest rates in the immediate future as March while it seeks sustained clear evidence that the pay settlements for 2006 are remaining contained (the early signs are that wage moderation is continuing). However, we believe that interest rates are likely to be trimmed by a further 25 basis points by May.
Howard Archer
This very much keeps the door open for an interest rate cut in February.
Howard Archer
December survey evidence showing robust service sector activity, stronger retail sales and firmer house prices has temporarily at least alleviated some concern over the economy's softness and eased pressure on the MPC for an imminent cut in interest rates.
Howard Archer
The minutes pour more cold water over the prospects for a near-term interest rate cut.
Howard Archer
The Bank of England currently seems unlikely to act before August given that growth in the first quarter appears to have been around trend, while survey evidence indicates that inflationary expectations have risen recently.
Howard Archer
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