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Monday, 10 May 2010

Chamber reaction to today's interest rates decision

By Dr Brian Sloan

Commenting on the MPC’s decision to hold interest rates at 0.5%, Dr Brian Sloan, Head of Business and Economic Policy at Greater Manchester Chamber, said: “The recovery remains weak and inflation, though above 3%, is within the Bank’s forecasts and expected to come down over the coming months, so today’s decision to hold rates at 0.5% is once again not unexpected and will be welcomed by businesses.

“This will give businesses some sense of stability given the uncertain outlook caused by the General Election result and the ongoing deliberations between the party leaders.”

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