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MPC HOLDS INTEREST RATES AT 5.75%

8th November 2007 | back to article listings BACK    print this article PRINT

Commenting on the Monetary Policy Committee’s decision to hold interest rates at 5.75%, Stuart Law, Chief Executive of Assetz, says:

“The Bank of England is risking the economic stability of the UK by refusing to lower bank base rates in the face of the already significant rise in rates over the last year and greater difficulty in controlling credit following the recent credit crunch. 

“It's about time that the Bank of England’s MPC saw sense and realised that the clear and present danger to the UK economy from the continuing effects of the credit crunch is more important than the less clear possibility of future pressures upwards on inflation.”

-ENDS

 

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