Bank of England must keep moving with interest rate cuts to support growth
Commenting on today’s (Friday) ONS data showing monthly growth fell by 0.1% in October, TUC General Secretary Paul Nowak said:
“The Tories left behind a failed economy.
“We’re still seeing the effects of that with growth in the doldrums. And families remain under pressure from high interest rates and low wages, resulting in weak household spending.
“It’s vital the Bank of England keeps moving with interest rate cuts.
“The government’s plan to invest in Britain is important – but they can't do it on their own.”
Editors note
- GDP figures: Today’s GDP data is available at: https://www.ons.gov.uk/releases/gdpmonthlyestimateukoctober2024
Stay Updated
Want to hear about our latest news and blogs?
Sign up now to get it straight to your inbox