30-07-2007
Further interest rate rises expected
A majority of consumers expect further interest rate increases over the coming months, according to a new study.
According to the results of a study by Lloyds TSB, 79 per cent of respondents made the prediction that interest rates would be higher than the current rate of 5.75 per cent in a year's time.
"The interest rate hike in July did little to reassure consumers there was an end in sight to the increases and they widely seem to agree with the prevailing view in financial markets that at least one more hike is on the horizon," said Trevor Williams, chief economist at Lloyds TSB Corporate Markets.
Of those polled, five per cent expressed a belief that interest rates will fall over the next 12 months.
The data was obtained for the Lloyds TSB Corporate Markets Consumer Barometer.
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