Back in January 2012 we posted an article in which the CEBR (Centre for Economics and Business Research) forecast interest rates would remain at 0.5 per cent until 2016. As it turned out they were pretty accurate with rates dropping to 0.25 per cent in August 2016. Whilst they predicted rates would start to rise in 2016 it should be remembered that we have had a number of unforeseen political and economic changes since the summer of 2016.
A snippet of the article is below with the full article here.
The Centre for Economics and Business Research (CEBR), a leading think tank with an excellent record for correctly forecasting economic performance has said that it believes interest rates will remain at 0.5 per cent until 2016.
The CEBR made the right call on a variety of forecasts for the economy in 2011, beating virtually all other analysts and winning all prizes from organisations that rank prediction success in the UK.
The organisation believes that the Bank of England will hold interest rates at their historic low of 0.5 per cent into 2016. If base rate did stay at that level until January 2016, it would make it an unprecedented 81 months of no change in base rate, the longest period of static rates since the 1940’s.
