Rate stability the right course of action say manufacturers
Release date: 07/08/2008
Britain’s manufacturers accepted today’s decision to leave interest rates on hold in the face of on-going worries about inflation, but warned that a cut in interest rates may only be matter of time amid further signs of a weakening UK economy.
Commenting, EEF Regional Manager, Tony Sarginson, said:
“The MPC continues to be pulled in opposing directions by rising inflation and slowing growth. However, the balance of risk appears to be shifting more rapidly. A cut in interest rates may be needed sooner rather than later to prevent the economy from drifting towards recession.”
Notes for editors
For more information contact Jenny Russell 0191 4165656 jrussell@eef.org.uk
EEF has more than 500 member companies in the North East of England and provides the most cost effective legal, employment law, employee relations and HS&E advice and training in the UK.
EEF employs teams of HR and employment specialists and has access to more than 60 lawyers and barristers to help its members understand the issues associated with the ever increasing introduction of legislation and regulation.
Membership of EEF gives immediate unlimited access to the team of specialists - including the largest specialist employment law team in the UK, which provides professional no-nonsense advice and guidance either by telephone or in person.
In addition, EEF represents the interests of its members at UK Government, European and international level, and can provide advice and support on issues and legislation that can affect almost every aspect of business.
Visit www.eef.org.uk/northern for further information