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SURGE IN STERLING HIGHLIGHTS YET AGAIN THE RISK OF AGGRESSIVE INTEREST RATE INCREASES

25/06/07 | 09:48

David Kern, economic adviser to the British Chambers of Commerce, said:

“The renewed surge in sterling, even if temporary, highlights yet again the risks to British business of aggressive interest rate increases.

“We appreciate that the MPC has to control inflation but a stronger pound performs a similar role in dampening economic activity. We urge again the MPC to be cautious and take account of the long term impact of its actions on business.”

ENDS

MEDIA CONTACT:

NICK DINES
Tel: 020 7654 5812
Email: n.dines@britishchambers.org.uk

NOTES TO EDITORS:

The British Chambers of Commerce (BCC) is the National Voice of Local Business.
The BCC sits at the heart of a powerful nationwide network of Accredited Chambers of Commerce serving business across the UK, which employ over five million people.

Other related links: LARGE INTEREST RATE INCREASES SET TO TRIGGER SHARP SLOWDOWN IN THE PACE OF UK ECONOMIC GROWTH
[11/02/07 10:10]

The British Chambers of Commerce (BCC) launches the February 2007 issue of its Quarterly Economic Forecast; Disappointing ECB interest rate cut increases risks to Sterling
[06/11/08 14:30]

Commenting on today’s interest rate cut announced by the European Central Bank (ECB)

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