The Bank of England MPC committee today voted to hold interest rates at 0.5%. Here is a comment from the North East Chamber of Commerce.

Commenting on the Bank of England’s decision to keep interest rates at 0.5%, Martyn Pellew, President of the North East Chamber of Commerce, said:

 “While there have been calls from outside the Monetary Policy Committee to raise interest rates, this would be a potentially risky course of action.

 “If interest rates are increased too soon, the danger of the UK entering a double-dip recession will also increase. UK businesses are facing pressure from the Government’s necessary austerity measures, and the remaining months of 2010 must be negotiated carefully to avoid a return to recession.

 “With this in mind, the steady approach we have seen to date by the Bank of England will aid businesses most effectively in the long run.”

< Back to News

Leave a Reply

You must be logged in to post a comment.


“Having worked in newspapers for 30 years, I've lost count of the number of public relations companies and press agencies I have come across. There are plenty of bad ones, no end of mediocre ones - and a few very good ones. We know that when Stride is involved, we are dealing with professional journalists who understand what we need: mutually beneficial relationships with influential organisations, and a steady stream of solid editorial material to help us fill our pages."

Peter Barron, The Northern Echo

“Stride over-performed on all accounts - regional, national and international. We cannot praise the team enough."

John Sargent, The Ideas Mine Ltd