LONDON (AFX) - British Retail Consortium said it finds "little justification" for the the Bank of England's decision to lower borrowing cost, expressing concerns that the move may induce a rate hike later in the year. "Our retail members would rather see the interest rate held now than experience damaging effects later," said BRC economist Pamella Webber. She said retailers are worried that the rate reduction might provoke the need for a "large" rise in interest rates later in the year -- a move that could potentially sap consumer confidence and halt economic growth.