The Bank of England has been urged to keep the base rate of interest low by the British Chambers of Commerce (BCC) after it suggested the recovery in the UK economy has slowed.
The BCC's latest Quarterly Economic Survey indicated that the economy continued to grow in the fourth quarter of 2010, but at a slower pace than in the second and third quarters. Fragility in the service sector is thought to have played a major part in the slowdown.
"Given the dangers facing the economy, we urge the Monetary Policy Committee to persevere with its current expansionary policies and maintain low interest rates until the recovery is more secure," said David Kern, chief economist at the BCC.
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