Britain’s manufacturers have applauded the Bank of England's decision to leave interest rates on hold for the seventh consecutive month, believing the it is right to resist pressure in some quarters for a premature rise.
EEF, the manufacturers organisation believes that the overall economic picture remains mixed enough to allow the Bank of England continued breathing space.
EEF Chief Economist, Steve Radley, said:
“The Bank is right to ignore premature calls for a rise in rates. Seven months without changes in rates have provided business with stability during a period of growing uncertainty.”