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UNEXPECTED FALL IN INFLATION MAY BUY TIME BEFORE INTEREST RATE RISE, SAYS SCC

[ 12-04-2011 ]

Commenting on the news that CPI inflation has fallen from 4.4% to 4%, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said: 
 
“This fall in the rate of inflation is welcome and may buy a little more time before the Bank of England move to raise interest rates.  With economic data continuing to give conflicting messages and January’s VAT rise still having a significant impact on headline inflation, we need evidence that the economy is firmly back on a growth path before interest rates begin to be adjusted back up to a more normal level.”

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