Manufacturers welcome hold on interest rates
Manufacturers today (10 September) welcomed the decision by the Bank of England to keep interest rates on hold at the historically unprecedented low rate of 0.5%.
The manufacturers' organisation EEF said it welcomed the decision to freeze rates and continue the current programme of quantative easing, believing both were essential to help a far stronger economic picture emerge.
EEF Chief Economist Steve Radley, said: "All the signs are that economic recovery is going to be long and gradual. Current talk of an end to recessionary conditions is premature and the combination of low interest rates and economic stimuli must be kept in place for some time to come to underpin a far stronger recovery."
