Businesses urged not to panic after interest rates rise
Businesses have been urged not to panic after the Bank of England’s decision to raise interest rates for the first time in a decade.
The Bank’s Monetary Policy Committee opted to raise the rate by 0.25% to 0.5%.
Rain Newton-Smith, CBI Chief Economist, said the decision had come as no surprise, given the recent signals from the Bank and several MPC members on implementing a rise should the economy expand.
Growth figures for the third quarter showed the UK economy expanded by 0.4% compared with the April to June period – ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
