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Article: Bank chief cheered by positive outlook.
- Article from:
- The Star (Sheffield) (Sheffield, England)
- Article date:
- February 28, 2008
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Calls from South Yorkshire business chiefs for rapid and deeper interest rate cuts are likely to go unanswered if the outcome of a visit by Bank of England deputy govenor Sir John Gieve is anything to go by.
Speaking after meeting with members of the Engineering Employers' Federation Sheffield Association, Sir John - who was Permanent Secretary at the Home Office when Sheffield MP David Blunkett was Home Secretary - stressed the bank's remit to use interest rates to control inflation.
"It may have not satisfied everyone, but interest rates have come down a bit," said Sir John.
"When deciding whether to go further we will be guided by the ...