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News - 8 September 2007
Retail industry calls for a cut in interest rates
Keeping interests rates static isn’t enough. The retail industry wants to see cuts. The Briish Retail Consortium (BRC) has appealed to the Bank of England to consider a cut in interest rates following another poor month on the high street.
Despite a slight improvement in sales in July the figures for August are disappointing compared with last year. The reasons for this are undoubtedly in part to do with people having less disposable income and a fear of rising interest rates.
After five cuts already this consumer confidence is becoming quite fragile. The BRC says the Bank of England should not be contemplating a further increase but should instead be looking at a cut.
Read related items on:
Bank of England
British Retail Consortium