The Bank of England's decision to cut interest rates while simultaneously halving its growth forecast has raised concerns among UK businesses, who face an uncertain economic climate. Chris Greenough, Managing Director of CEL Sheet Metal Limited, warns that the downgraded growth predictions and lack of a clear path to expansion could hinder investment and job creation. He emphasizes the need for long-term policy support to help businesses navigate this period of stagnation.
That's the message from Chris Greenough, Managing Director of CEL Sheet Metal Limited, base don Stafford Park, Telford.
Bank of England Governor Andrew Bailey was supportive of Reeves’ plans but said they would “take time” to have an effect. He added:"Even with additional cuts on the horizon, the uncertain climate hinders strategic decision-making and confidence across sectors. "The priority should now shift toward ensuring businesses have the support and resources to weather this period of stagnation, while policymakers focus on implementing measures that genuinely revive economic momentum and restore resilience in the near future.
ECONOMY INTEREST RATES GROWTH FORECAST BUSINESS CONCERNS UK POLICY
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