BCC responds to Bank of England interest rate cut

20th March 2020

Commenting on the decision by the Bank of England’s Monetary Policy Committee to cut interest rates to 0.1%, Suren Thiru, Head of Economics of the British Chambers of Commerce (BCC), said:

“The decision to cut interest rates to their lowest ever levels and restart quantitative easing reflects an increasingly dire near-term outlook for the UK economy.

“This may give a short-term boost to market confidence, but will have little long-term effect unless it translates to practical support for businesses. It is critical that the Bank of England works with financial institutions to ease cash flow challenges for firms on the ground in this increasingly turbulent period.”

You might also be interested in

TWO NEW APPOINTMENTS FOR SHEFFIELD-BASED ALTITUDE

Wed 17th April 2024

High flying Yorkshire PR agency Altitude PR has added two more professionals to its growing team as it strengthens its service offering and expands across the UK.

Inflation Cooling But Business Price Pressures Persist

Wed 17th April 2024

David Bharier, Head of Research at the British Chambers of Commerce, reacts to the latest inflation figures published this morning

Ryan Wilkes and Liam Buttery promoted to Director at Shorts

Tue 16th April 2024

Shorts are delighted to announce the double promotions of Ryan Wilkes and Liam Buttery to the positions of Directors within the Owner Managed Business team with effect from 1st April 2024.

Labour Market Continues To Slowly Loosen

Tue 16th April 2024

Jane Gratton, Deputy Director Public Policy at the British Chambers of Commerce, responds to the latest labour market data from the ONS