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| CBI unsurprised by interest rate decision |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Friday, 06 August 2010 00:00 |
 The Confederation for British Industry (CBI) has stated that it is unsurprised by the government's decision to maintain the UK's interest rate at 0.5 per cent.In news which may be of interest to those in finance jobs in London, the Bank of England's Monetary Policy Committee yesterday (August 5th) decided to keep the base rate at its current level for the 17th month in succession. This is in order to aid the country's fiscal recovery following the adverse effects of the global economic downturn and falls in line with the opinion of Michael Baxter, editor of Investment and Business New. Mr Baxter said earlier this week that he anticipated a freeze despite Britain's gross domestic product expanding by 1.1 per cent in the second quarter of the year. And Lai Wah Co, head of economic analysis at the CBI, has remarked that this was "widely anticipated" but added that "a gradual withdrawal of the monetary stimulus" may be necessary in the coming months. Posted by Daniel Frost 
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