Bank of England Less Likely to Raise Rates?

The Bank of England has expressed uncertainty about home prices that may make the bank's monetary policy committee less likely to raise rates in early 2005, according to the United Kingdom's Council of Mortgage Lenders."The outlook for house prices is extremely uncertain," the Bank of England said in a Nov. 10 inflation report. The CML said this is the first time the bank's monetary policy committee has explicitly recognized "the possibility that house prices may fall modestly for a period."