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Article: Gloucestershire businesses say a cut in interest rates is needed.
- Article from:
- Gloucestershire Echo, The
- Article date:
- October 7, 2008
CopyrightCopyright 2008 Gloucestershire Echo, The. Provided by ProQuest LLC. (Hide copyright information)
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A Cut in interest rates of at least a half a percentage point
this week is needed to kick-start confidence in the economy, say
businesses in Gloucestershire.
As the banking crisis continues to dominate the headlines, voices
in the business community have begun calling for a significant cut
in rates of as much as two per cent when the Bank of England's
Monetary Policy Committee meets on Thursday.
Firms in Gloucestershire admit that realistically they expect the
Bank to announce only a quarter per cent cut at best, but are
adamant more dramatic action is needed and that only a half per cent
cut will have the desired impact.