The Bank of England can afford to see in the New Year with interest rates at their current level and wait until a clearer picture of the economy emerges, according to EEF, the manufacturers’ organisation.
EEF Chief Economist, Steve Radley, said:
"Manufacturers will welcome today’s decision at a time when a range of rising costs is making life more difficult. Evidence of slowing housing and consumer markets may not be conclusive, but it gives the Bank breathing space to leave rates on hold until the situation becomes clearer."