Welcome to the Scottish Chambers of Commerce website

Loading
<< September 2011 >>
SuMoTuWeThFrSa
    123
45678910
11121314151617
18192021222324
252627282930 

Press Releases

Please use the calendar on the left to search our archives.
Thank-you.

SCC COMMENT ON INTEREST RATES

[ 08-09-2011 ]

Commenting on the news that the Bank of England’s Monetary Policy Committee has kept interest rates on hold at 0.5% and maintained Quantitative Easing (QE) at £200 billion, Liz Cameron, Chief Executive of Scottish Chambers of Commerce, said: 
 
“Interest rates now look to be securely anchored at the current low rate well into next year at least, which is a necessary reflection of the current state of uncertainty in the global economy.  It is also apparent that any decision to raise the level of QE may have to wait until after inflation passes the peak expected this autumn.  With monetary policy tied down in this way, we are looking to Government to act to provide an economic stimulus.
 
“The Scottish Government has announced its legislative programme for the coming year and will be publishing its revised economic strategy shortly.  We will be looking for it to maximise investment in capital projects, within the confines of the spending restrictions imposed by Westminster.  In terms of the UK Government, it must utilise fiscal tools to incentivise investment and continue to work to ensure an adequate supply of finance to businesses looking to grow after enduring a lengthy period of recession and stagnation.”

back