Fund managers tip interest rates to hit 5 per cent by end of year

From: The Scotsman | Date: May 3, 2004| Author: | Copyright information

ALMOST 50 per cent the country's top fund managers expect interest rates to hit 5 per cent by the end of the year, and just over a tenth expect rates to end 2004 higher.

The latest Citywire AAA Fund Manager Survey shows 41 per cent of respondents expect the base rate to reach 4-4.5 per cent by the end of December, with 47 per cent predicting 4.5-5 per cent. However, a small minority, 12 per cent, still anticipate a base rate above 5 per cent.

The Bank of England's monetary policy committee meets this week and City betting is on a quarter point rise in rates to 4.25 per cent, its third ...

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