A cut in interest rates will give a much needed boost to the market, according to developers who are suffering a drop in inquiries over the autumn. The Bank of England monetary policy committee’s (MPC) latest decision on rates is due on December 6; calls for a cut from the industry and economic commentators have grown in recent weeks on the back of ongoing turmoil in global credit markets. The Confederation of British Industry’s director general Richard Lambert has warned that the impact of the credit squeeze is now being felt across the economy. <br><br>“People are more anxious than for a very long time. There is a considerable degree of uncertainty around business, even those a long way from the City. There is a sense of unease about the economic outlook.” The CBI has revised its growth forecast for 2008 from 2.5% to 2%. But minutes of the MPC’s latest meetings indicate that members are taking a “wait and see” approach. Committee members said: “While there had been a clear change in financial markets and credit conditions, the evidence of significant effects on household or business activity was so far limited.” <br><br>In November, the MPC voted by seven to two …