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POLICY DEPARTMENT COMMENTS ON INTEREST RATE DECISION

Home / News & Opportunities / Chamber News

Date: 02/11/2017

Commenting on today’s (Thursday 2 November) interest rate decision by the Bank of England’s Monetary Policy Committee, Sophia Haywood, Policy Manager at Herefordshire & Worcestershire Chamber of Commerce comments:

“The Chamber and the local business community would have preferred to have seen steady rates over the near term due to uncertainty over Brexit, however most firms accept that rates will need to return to previous levels at some point – but they want to make sure this happens gradually in order to support local growth. The Bank of England themselves have a pretty stagnant outlook on the next few years, so in addition to holding off on regular, small rate rises, its vital that government invest in infrastructure, boost business confidence and reduce price pressures through the upcoming Budget.”