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RISING INFLATION SHOULD NOT RESULT IN HIGHER INTEREST RATES

[ 17-05-2011 ]

Commenting on the rise in inflation in April from 4% to 4.5%, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said: 

 
“This rise in inflation is not entirely unexpected given increasing transport costs and the medium term expectations of the Bank of England.  With consumer spending continuing to be constrained and the bulk of the pressure on prices coming from transport and external factors, we anticipate that there should not be significant additional pressure for the Bank to increase interest rates in the short term. 
 
“Despite the additional certainty provided by a majority Scottish Government, the economic recovery remains patchy at the present time and the rise in inflation should not be seen as a signal to increase interest rates.”
 

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