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 30th May 2017

CAI estimates 2016-17 cotton crop at 340.5 lakh bales

Cotton Association of India (CAI) has retained its earlier estimate...

Courtesy: World Bank/Claude Renault

Textiles | On 30th May 2017

India’s economic fundamentals remain strong: World Bank

India remains the fastest growing economy in the world – economic...

Courtesy: Dollar Industries

Apparel/Garments | On 30th May 2017

Dollar Industries registers Rs 906 cr turnover in FY17

Hosiery major Dollar Industries Limited registered a turnover of Rs...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search