Press Room

Responding to today’s decision to cut interest rates by a half point, EEF Chief Economist, Steve Radley, said:

EEF, the manufacturers’ organisation has urged the government and Bank of England to help business tackle the current economic turmoil with a twin approach of a positive pre-budget package backed by a series of cuts in interest rates starting this week

Pay settlements in manufacturing have risen slightly according to the latest figures reported by EEF, the manufacturers' organisation, but there is no evidence that wage inflationary pressures are building up in the sector.