Bank rate cut is premature
Reaction to the announcement that all foreign takeover bids will be assessed
Reaction to the Government's childhood obesity strategy
Philip Booth comments on the decision to cut bank rate
“Today’s decision to cut the base interest rate is both disappointing and ill-advised. The post-Brexit economic problems are down to consumer and business uncertainty and will not be solved by introducing monetary stimulus. By lowering interest rates, the Bank of England will distort the economy and potentially reduce growth.
“Instead of altering monetary policy in a whirlwind panic based largely on surveys of business intentions, we need policies to de-regulate the economy in order to provide a healthier environment for business investment that will improve productivity and living standards.”
Notes to editors:
To arrange an interview please contact Nerissa Chesterfield, Communications Officer: [email protected] or 020 7799 8920 or 07791 390 268
The minutes from the IEA SMPC’s last metting where a decision to hold the bank rate in August can be found here.