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Thursday, 5 March 2009

Chamber disappointed by interest rates cut

by Chris Fletcher,
Deputy Chief Exec.

Interest rates have again been cut - to a record low of 0.5%. We are disappointed by this decision at the Chamber - an increasing number of our members have voiced their concern about further drops in the bank rate and have instead called for a hold.

There is the perception that another cut will have a negative effect on the economy rather than the desired boost. Also, there was a feeling that it was better to retain the option of further cuts at a later date should this become necessary.
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