Thursday, January 08, 2004
No change yet
Posted by David Smith at 05:06 PM
Category: Thoughts and responses

The Bank of England duly left interest rates unchanged at 3.75%, while the European Central Bank held at 2%. The Bank issued no statement, while the ECB said the present level of rates was "appropriate". Some in the markets still see room for a cut in Europe, in response to weak growth and the euro's strength. I'd bet against that, just as I'd bet strongly on a rate rise from 3.75% to 4% by the Bank of England next month.