Bank delivers breathing space
The Bank of England's decision to hold interest rates is the right one according to the EEF (Engineering Employers Federation). Against a background of fragile recovery in manufacturing, the EEF believes that business needs this breathing space to allow tentative signs of improving conditions to take a firmer hold.
EEF Chief Economist Stephen Radley said:
"Today's decision is the right one. Business now needs a period of stability to let it take advantage of the improving economic outlook and to rebuild confidence."