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Business Leaders Warn of Bleak Year Ahead
02/03/2011
Business leaders have warned that Britain faces a year of stubbornly high inflation and anaemic and sluggish economic growth.
Inflation will hover around 4 % in 2011; double the 2 % target, having been at 3 % or higher for the whole of 2010, according to the Confederation of British Industries.
At the same time, the recovery will be slower than expected with economic growth of just 1.8 % this year and 2.3 % next year. This forecast is less than the 2.1 % and 2.6 % pencilled in by the Treasury.
The CBI report predicts interest rates will start rising in the spring and will reach 1.25 % by the end of this year and 2.75 % by the end of 2012.
Homeowners aged over 55 years who would like to know how much money the value of their property could release to help increase their income, can find out by contacting therightequityrelease.co.uk for equity release advice.
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