Saturday, 5 June, 2004

The Bank announced that total net lending rose by £1.3bn in April

BBC Radio 4's Money Box was broadcast on Saturday, 5 June, 2004, at 1204 BST.

The programme was repeated on Sunday, 6 June 2004, at 2102 BST.

The Bank of England's Monetary Policy Committee (MPC) will meet on Wednesday to review interest rates.

With oil prices soaring, and consumer debt levels approaching the £1trillion mark, will inflationary pressures be such that we see another rate rise?

Global demand for oil and the worries of terrorism in Saudi Arabia have forced the price of UK crude oil to its highest level since its 1990 peak.

The government has now confirmed it is "reviewing" the planned 2p increase in duty which is due in September.

Meanwhile the Bank of England has released April's borrowing figures, and consumers now owe a total of £984.81bn, making a rate rise seem more likely.

To discuss the pressure on petrol prices and what can be done to keep them down, we spoke to Bert Morris, Deputy Director of the AA Motoring Trust.

And to discuss the possible outcome of the MPC meeting in the light of recent economic threats, we spoke to Doug McWilliams of the Centre for Economics and Business Research.

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Producer: Jennifer Clarke
Presenter: Paul Lewis
Reporter: Mike Johnson
Web Producer: Nathalie Knowles