PRESSURE for interest rate rises over coming months is easing, says Portman Building Society subsidiary The Mortgage Works.
"The case for further rate increases is getting progressively weaker," said group development director Matthew Wyles.
"The January rate move was obviously intended as a stitch in time and a further rise now would not make sense until the MPC (Bank of England monetary policy committee) has given the last hike sufficient time to impact on the economic data."
At noon on Thursday March 8 the MPC announced it was this month leaving the cost of borrowing on hold at 5.25 per cent, as forecast.
Independent mortgage adviser John Charcol said the MPC's decision suggested that next week's inflation data would be benign.
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