Search

date: 6 March 2008

embargo: For immediate release

TUC on March interest rates decision

Commenting on the decision today (Thursday) of the Bank of England's Monetary Policy Committee to hold interest rates at 5.25%, TUC Head of Economic and Social Affairs Adam Lent said:

'Today's hold was expected, given that inflation is expected to jump later this month. However the Bank's forecasts for weak economic growth in 2008 pile the pressure on for an April cut in interest rates - a move which would prove better news for the longer term strength of the economy.'

NOTES TO EDITORS:

- All TUC press releases can be found at www.tuc.org.uk

- Register for the TUC's press extranet: a service exclusive to journalists wanting to access pre-embargo releases and reports from the TUC. Visit www.tuc.org.uk/pressextranet

Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Elly Brenchley T: 020 7467 1337 M: 07900 910624 E: ebrenchley@tuc.org.uk

Press release (200 words) issued 6 Mar 2008