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MPC must give manufacturing sector interest rate cut

05/11/08 | 13:27

Commenting on official manufacturing figures for September, released today by the ONS, David Kern, Economic Adviser to the British Chambers of Commerce (BCC), said:

"The manufacturing figures for September were worse than expected. The sector is in recession.

"The MPC must cut interest rates steadily and deliberately to 3 per cent by early 2009. There is no need for panic measures that would only shatter confidence."

Ends

Media Contacts:

Fiona Cunningham
Tel: 020 7654 5812
Email: f.cunningham@britishchambers.org.uk

Sam Turvey
Tel: 020 7654 5813
Email: s.turvey@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: BRITISH BUSINESS WELCOMES TODAY’S INTEREST RATE CUT
[06/12/07 12:04]

Commenting on today’s MPC decision to cut interest rates to 5.50%, David Kern, Economic Adviser to the British Chambers of Commerce, said:; SERVICE SECTOR WEAKNESS REINFORCES NEED FOR NOVEMBER INTEREST RATE CUT
[11/10/07 09:08]

The British Chambers of Commerce (BCC) Q3 Quarterly Economic Survey of over 4,700 companies offers a mixed picture with the manufacturing sector out performing the service sector. Overall however the...

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