British interest rates are likely to have hit their peak according to the OECD's latest Economic Report, released on 28 November.
The Bank of England has raised interest rates twice since September, taking them to a five-year high of 5%.
The Paris-based OECD notes that further hikes are unlikely in the medium term. "Following recent monetary tightening, the case for further increases in interest rates is not compelling," the report notes. The report added that "as lon