The group’s latest report described the Monetary Policy Committee’s quarter-point rise earlier this month – its first in nearly four years – as premature.
Peter Spencer, economic adviser to the ITEM Club, said: ‘The risk is that in tightening the monetary policy screw too early the MPC will choke the life out of the fragile economic recovery.’
The report warned specifically against a further increase in December, when it said consumer confidence was ‘critical’ for the retail and property markets. A rise might prove the trigger to push the consumer into serious retrenchment and the economy back into stagnation, it concluded.
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars
Tallat Mahmood appointed to corporate finance team of Top 20 firm
Top 25 firm HW Fisher & Co has acquired London firm Rhodes & Rhodes