Bank has time to pause for breath say manufacturers

July's decision to leave interest rates on hold is the right one, giving the Bank of England time to assess the impact of recent rises in the cost of borrowing, according to EEF, the manufacturers’ organisation.
EEF Chief Economist, Steve Radley, said:

“With tentative signs from the housing market and from business surveys that activity is cooling a little, the Bank was right to pause for breath today. We urge the Bank to continue its cautious approach.”

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