British Chambers of Commerce raises growth forecast but warns global turmoil should make Bank hold fire on rate riseBritain’s businesses are urging the Bank of England to leave interest rates on hold “well into 2016”,to cushion the economy against global turmoil, as rate-setters prepare to announce the result of their September policy assembly.
Publishing its latest quarterly economic forecast, or the British Chambers of Commerce has upgraded its expectations of GDP growth but cautions the Bank’s nine-member monetary policy committee (MPC) against pushing ahead with tightening policy. Related: Bank of England chief says interest rate plans unaffected by Chinese slowdown Continue reading...
Source: theguardian.com