Welcome boost after interest rate disappointment

Manufacturing News, Source : TheManufacturer.com
Published : 08 Nov 2002 10:48

UK industry has welcomed the half-point cut in US interest rates despite the disappointment following the Bank of England and European Central Bank’s policy freeze.

Companies with strong links to Europe were the most frustrated by the ECB’s failure to cut its interest rate while many manufacturers were left fuming with the Bank of England’s decision. Companies in the marketing, retailing and construction sectors say they understand the predicament but that a rate cut now could jeopardise the economy’s stability in the future.

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