the Business Forum and
the Economic Partnership
in Brighton & Hove
Homepage    BCRP Intranet    Funding    Events    Knowledgebase    Links    About us     Contact us
Key projects



Workforce development 


Business &

Property &
Development sites




Consultation opportunities

Brighton & Hove Business Forum
8-11 Pavilion Buildings, Brighton, BN1 1EE
Tel: 01273 735442
Email: info@brighton

© Brighton & Hove
Business Forum

News - 14 January 2006
David Frost, BCC

Business group calls for drop in interest rates

The British Chambers of Commerce has expressed disappointment at the Bank of England’s failure to reduce interests rates this month. Businesses feel that an opportunity to nip the current economic slide in the bud has been missed.

Commenting on the Bank of England’s interest rates decision, David Frost, Director General of the British Chambers of Commerce (BCC), said, “The decision by the MPC to leave interest rates unchanged at 4.50% was widely expected by the financial markets. British business is disappointed that the MPC felt unable to take firm action to counter the downward pressures on the economy. We understand that the MPC faces major uncertainties. But we reiterate that waiting too long before taking corrective action could be dangerous, and could cause long-term damage.

"GDP rose only 0.4% in Q3 2005, the fifth successive quarter of below-trend growth. Year-on-year Q3 growth was a full percentage point below trend. For 2005 as a whole, UK GDP growth is widely expected to average 1.6-1.7%, the lowest increase since 1992. Manufacturing remains under pressure and total industrial output fell in Q3. The claimant count measure of unemployment has risen in each of the last ten months, and is now more than 88,000 higher than in January. On the LFS measure, unemployment rose 72,000 in the three months to October.

"Inflationary pressures are easing, and the labour market is weakening. CPI inflation fell more sharply than expected in November, to 2.1%, and there is a good chance that it will be down to 2% or less before long. The energy-related upsurge in CPI inflation seen last autumn is now unwinding, and wage inflation has also slowed. The case for a small cut in interest rates has strengthened, and we strongly urge the MPC to act without undue delay."

Read related items on:
British Chamber of Commerce
Frost, David

Browse our business Knowledgebase or search by keyword


15 December 2017
GTR consultation ends 20th Dec 2017
13 December 2017
Ethical Food StartUp Programme - Idea Generation Workshop 12 December 2017
Utilise Plus launch programme of energy efficiency grants and business support for SMEs 11 December 2017
City Centre Vacancy Rates Drop Slightly From Sept 5 December 2017
Innovate UK Announces Sector Competitions in Manufacturing and Infrastructure Systems 5 December 2017
GDPR, steps to early compliance 1 December 2017
The 29th Sussex Business Awards 2017 Winners Announced 1 December 2017
Old tech gear? Give IT a new lease of life 29 November 2017
Driving for Better Business Campaign launches 29 November 2017
ARKA Funerals sponsor Burning the Clocks 2017 with 'In Memory' lanterns 27 November 2017
Govia Thameslink launches third consultation phase on once-in-a-generation timetable restructure 23 November 2017
Coast to Capital Launches Brighton Mainline Alliance 22 November 2017
Calling all UK companies that have transport, parking and commuting issues to address 15 November 2017
Start-up Challenge Business Competition Offering £10,000 Investment to Young Entrepreneurs 15 November 2017
IUK Announces £10 Million Innovation Loans Infrastructure Systems Funding Competition for UK SMEs 15 November 2017
Sussex Food and Drink Grand Finalists Celebrate Success 10 November 2017
Meaning conference confirms speaker line-up: breeding a new army of business activists 10 November 2017
Positive body image documentary screening at Hove school 8 November 2017
Material Practices: Painting and Printmaking at the University of Brighton - Private View 8 November 2017
Economic Partnership kick starts city strategy consultation 8 November 2017
GTR respond to positive ASLEF referendum result 7 November 2017
350th employer signed up to the Brighton & Hove Campaign 7 November 2017
Rampion announces £4 million community fund 6 November 2017
The First Gamification Conference comes to Brighton 3 November 2017
Shoreham Port Welcomes New Commercial and Operations Director 2 November 2017
Burning the Clocks launches Crowdfunder for 2017 2 November 2017
The Gatwick Diamond Business Awards are now open for Entries 31 October 2017
Brighton Based Paxton Open New Centre for Technology & Innovation 27 October 2017
Adventures in risk taking for high growth businesses 27 October 2017
Can your business benefit from offering a 'world of work' experience? 27 October 2017
The Small Business Saturday Bus Tour launches across the UK for its fifth year 24 October 2017
Business Networking & Case Study Visit with the Sustainable Business Partnership 24 October 2017
Could you use an Energy Saving Workshop? 17 October 2017
Peter Blake raffle raises £2,290 for Middle Street School 17 October 2017
AMEX named major sponsor of city's bike share scheme 16 October 2017
Ropetackle Business Friends scheme 4 October 2017
BTN BikeShare: a successful first month 3 October 2017
PLATF9RM open at Hove Town Hall 28 September 2017
Green Light for Preston Barracks and Moulsecoomb Campus Regeneration