jason-briscoe-amLfrL8LGls-unsplash

Chamber responds to the Bank of England’s decision to cut interest rates

West & North Yorkshire Chamber of Commerce today welcomes the Bank of England’s Monetary Policy Committee’s decision to cut interest rates.

In a widely anticipated move, the Bank cut rates from 5 per cent to 4.75 per cent. This follows a further cut from 5.25 per cent to 5 per cent in August.

Mark Casci, head of policy and representation at the Chamber, said: “This will be seen as a welcome move by employers.

“The rate of interest has been consistently named among the leading cost pressures facing businesses in our Quarterly Economic Survey.

“A reduction in the cost of borrowing will ease pressures on businesses of all sizes who are grappling with additional challenges announced in the Autumn Budget last month.” 

Related content

Chamber Reacts to Autumn Statement

By Head of Representation | 17 November 2022

Chamber’s Head of Policy presents at Bank of England briefing

By Head of Representation | 10 November 2022

West & North Yorkshire mourns the passing of Andrew Digwood

By Chamber Marketing | 9 November 2022

Major employers call on PM to back high speed rail projects

By Head of Representation | 8 November 2022

WNY Chamber appoints Business Engagement Manager

By Chamber Marketing | 28 October 2022

Chamber calls on new Prime Minister to restore economic stability

By Head of Representation | 24 October 2022