It is likely that interest rates will be lowered once the economy has passed the current "spike of inflation", one sector commentator has suggested.
With news that may be of interest to those seeking unsecured loans, a spokesperson for the Council of Mortgage Lenders has predicted that the Bank of England's monetary policy committee may well make such a cut when the decision can best deliver the intended outcome while also sustaining public confidence.
"Once we get over this spike in inflation there are prospects then for perhaps more concerted action to reduce interest rates rather than making piecemeal or limited reductions at this stage," he explained.
The representative added that such early action could lead some commentators to be concerned that it was appropriate given the inflation target.
In related news that may interest people looking for unsecured loans, food inflation alone has recently spiralled to a consumer prices index record of 13.7 per cent on the year, up from 10.6 per cent in June.
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