Commenting on the US Federal Reserve interest rates decision today, John Longworth, Director General of the British Chambers of Commerce, said:
“Given the current global uncertainty, the Fed was right to keep rates on hold for now, and avoid exacerbating the problem. We would urge the MPC to follow suit, particularly given the more mixed picture emerging from the UK labour market, and the recent disappointing trade and manufacturing figures.
“The Bank of England should keep UK rates at their current level until well into 2016 at the earliest, and when rates do start to rise – as they must eventually do – it is vital that increases are limited to small incremental rises, in order to maintain business confidence.”
