Interest rates may rise

Pressure for an upward move in interest rates is mounting, according to analysts.determine the level of mortgage and other domestic rates, to edge up. The key one month rate closed yesterday at 5.44 per cent and analysts believe that a move above 5.5 per cent would trigger a general round of rate increases.

The one month rate was trading at, or just below, 5 per cent when interest rates were last cut, they point out.