North East Shadow MPC – July 2023

Date posted: 1st Aug 2023

A group of North East businesses have voted for a rise in interest rates by a majority of 4-2, voting for a 0.25% increase.

The group highlighted factors that are currently impacting on the economy, with clients reigning in spending due to uncertainties surrounding the impact of previous interest rate rises and soaring business costs.

Partner, Nicola Bellerby, discussed the impacts these rates may have on clients and said, “The pressure to increase wages has gone down, suggesting that things are easing and that these interest rate rises have been the right thing to do.”

We would like to thank those that took part, Martyn Pullin, Karl Kendrick, Tim Bailey and Nick Pope

And to Recognition PR for facilitating.

See how they voted here:



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