Bank keeps interest rates on hold
The Bank of England's Monetary Policy Committee today decided to hold interest rates at their current level.
The committee’s decision to leave interest rates unchanged at 4% came despite the US Federal Reserve’s decision to cut its rate by a half percentage point.
The Forum of Private Business said it was ‘slightly’ disappointed at the decision.
‘We are slightly disappointed at this decision as a small cut would have been welcomed by our members,’ said Nick Goulding, FPB chief executive.
‘However, the unchanged rate does help to maintain a stable economy which is the key to the national and regional pursuit of economic competitiveness which will ensure British small businesses continue to be “world class” enterprises.’