Austin Hughes was on radio a few nights ago and suggested that rates will peak at around 4.25% this year and may come back down after a year or two. Now the way he said it suggested that it was most likley rates would be lower in a year or two. Now looking at what the markets are predicting interest rates (on average) are not forecast to be less than 4.25% over next 1,2,3,4,5,6,7,8,9, and 10 years!! And markets are predicting the average over next 20-30 years is almost 4.5%! How a bank economist can say what Austin said with such data in front of them (edit - liabelous comment removed)
edit - made by OW 17.06.07
Please refrain from making potentially libelous statements, you can use the modularity of the english langague to make your point very very clear without getting the PIN in to deep doh doh.