Home / Knowledge / News / MPC to support banking system
MPC to support banking system
07
Jan '08
Commenting on the choices facing the MPC at its first 2008 meeting next Thursday.

David Kern, Economic Adviser to the British Chambers of Commerce, said:
“The unusual pessimism that has greeted the start of 2008 exacerbates the risks that consumer and business confidence will decline, and strengthens the case for a modest cut in UK interest rates, to 5.25%, next Thursday.

“We understand the dilemmas facing the MPC. After cutting rates to 5.50% in December, the MPC's natural inclination is probably to wait at least until February.

Most analysts expect them to keep rates on hold next Thursday.

A decision to wait would not be surprising, but would be wrong in our view. Given the immediate threats, the risks of waiting are greater than the risks of acting early.

“While a 2008 economic slowdown is inevitable, a recession can be avoided if correct measures are adopted without undue delay.

The ominous messages conveyed by the Bank of England's new Credit Report highlight the vital need for the MPC to support the banking system, alleviate the credit squeeze, and prevent a further loss of confidence.

A small cut in UK interest rates on Thursday would reduce the risk that dangerous emergency measures would be needed later in the year”.

British Chambers of Commerce

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search