Businessman claims interest rate cut is 'absolutely right'
Date published: 08 January 2009
British Chambers of Commerce logo
A leading businessman has spoken out about the recent slash in interest rates.
Deputy Chief Executive at Greater Manchester Chamber Chris Fletcher claims it is “absolutely right” that the bank should cut its rates in a time of widespread economic downturn.
Speaking to Rochdale Online he added: “In light of the recent announcements regarding the high street and worsening conditions in other sectors, the decision makers must use every tool at their disposal”.
“However a rate cut on its own is not enough, it has to be passed on by lenders as well as easing access to finance.
“The other slightly worrying element is that the interest rate ‘ammunition’ for tackling the economy is rapidly running out so it is imperative that this is not the only action that is taken; it has to be one of a series of coordinated measures.”
Do you have a story for us?
Let us know by emailing news@rochdaleonline.co.uk
All contact will be treated in confidence.
Most Viewed News Stories
- 1Man charged with murder after New Year's Day knife attack
- 2Andy Burnham asks taxpayers for at least £9 more a year to help fund police
- 3Government issues statement on clean air zone
- 4Ask Citizens Advice: How can I keep track of my spending better this year?
- 5Council issues warning as temperatures set to plummet yet again
To contact the Rochdale Online news desk, email news@rochdaleonline.co.uk or visit our news submission page.
To get the latest news on your desktop or mobile, follow Rochdale Online on Twitter and Facebook.
