Cut In Interest Rates

'The economy needs a significant monetary stimulus and the Bank has clearly decided this will be best achieved by another big cut in interest rates. What is critical for business and consumers alike is that this reduction is passed on.

The economy is stalling, inflation is expected to undershoot the Bank's own target and the headline RPI rate of inflation is likely to turn negative for at least a few months in 2009. We need to see lending improve and to keep business working.'

Please do get in touch if you have concerns or issues about you business.

If you would like to find out more or have any questions, we will be delighted to offer any help or advice. Please contact Peter Hogan at Darlington, Nicola Bellerby at Durham or Terry Doyle at York.

Internet link: CBI press release

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